Dixon Technologies share price slips over 3% after Morgan Stanley cuts rating on rising competition

Dixon Technologies share price in focus today: Shares of Dixon Technologies fell 3.3% in Tuesday’s trade (July 01), dropping to ₹14,853 apiece, even as the broader Indian stock market traded in positive territory. The decline came as investor sentiment turned cautious after global brokerage firm Morgan Stanley downgraded the stock to ‘Underweight,’ even while raising its target price to ₹11,563 per share from ₹8,696 earlier.

The brokerage flagged rising competition in the electronics manufacturing services (EMS) business, particularly as government incentives for the sector near their end, a concern also echoed by Phillip Capital last week.