Dixon Technologies Hits 52-Week Low Amid Motorola Volume Decline, Brokerages Bearish

• Dixon Technologies stock is trading at a 52-week low, with a 35% decline in the last three months.
• Brokerage firm Phillip Capital highlights a sharp decline in volumes from key client Motorola, which accounts for over 45% of Dixon's FY25 revenue.
• Motorola's volumes decreased by 20% year-on-year in Q3 due to competition from brands like Apple and increased outsourcing to Karbonn.
• Phillip Capital maintains a 'Sell' rating with the lowest target price of ₹9,085, citing risks in the mobile phone assembly business.
• Despite 26 'Buy' ratings out of 34 analysts, Ambit Capital also reduced its target price, maintaining a 'Sell' rating.

Why It Matters: Dixon Technologies faces significant challenges due to declining Motorola volumes and high client dependency.