India's Dixon Tech falls; PhillipCapital flags risks to domestic business
ReutersJun 25, 2025 6:11 AM
Dixon Technologies DIXO.NS falls 2.6% to 14,152 rupees
PhillipCapital says Motorola MSI.N, co's largest client, outsourcing domestic volumes to rival Karbonn in 2025 a risk to domestic business
Maintains "sell", cuts PT to 9,085 rupees from 11,077 rupees
Says Motorola's reliance on Indian manufacturers DIXO and Karbonn raises concerns over potential export risks for DIXO, given Motorola's ties to China
Cuts FY27 revenue and profit estimates by 4% and 9%, respectively, taking into account competition
Stock rated "hold" on avg; median PT is 17,473.50 rupees, per data compiled by LSEG
YTD, DIXO loses 21%
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