Dixon Technologies Stock: Shares of Dixon Technologies, a company backed by Life Insurance Corporation (LIC), are performing well on BSE and NSE. In the last one year, the company's stock has increased from Rs 2,893 to Rs 7,626.90 on NSE. It has given approximately 160 percent returns to investors in one year. With this, shares of this electronic manufacturing services company have become multibagger stocks.
Touching its all-time high since last four sessions
On April 1, the first day of the financial year 2024-25, the company's shares jumped 1.51 percent and closed at Rs 7592.05 on NSE. The shares opened on the green mark in the morning and reached their all-time high of Rs 7,626.90 in the afternoon. Later it declined, yet it closed on the green mark. This multibagger stock has achieved the feat of touching all-time high levels in the last 4 consecutive sessions. Experts have predicted that it will increase further. It is expected to touch the level of Rs 8,130 soon.
Big insurance companies are supporting
According to stock market experts, the balance sheet of the company is very strong. The consumer electronics business of Dixon Technologies is also growing rapidly. Institutional investors also have full confidence in the economic progress of this company. Apart from mutual funds, companies like LIC, Max Life Insurance and ICICI Prudential Life Insurance have also expressed confidence in this multibagger stock.
These big companies have stake
Mutual funds held 17.39 per cent stake in Dixon Technologies at the end of December 2023 quarter. PGIM India, Nippon India, Kotak and HDFC Mutual Fund have made huge investments in this multibagger stock. Apart from this, LIC has 2.83 percent stake, Max Life Insurance has 1.92 percent stake and ICICI Prudential Life Insurance has 1.95 percent stake. Also, FPI owns 16.71 percent and Mauritius's Steadview Capital owns 1.29 percent.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest money here.
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