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The stock traded at a P/E multiple of 25.1, while the price-to-book value ratio stood at 4.18.

Key downside risks to the company include disruption due to instability in the Chhattisgarh region and regulatory uncertainty in terms of potential higher royalty demand from state governments.

Wall Street short-seller Hindenburg Research alleged the conglomerate improperly used offshore tax havens and manipulated stocks. The report also flagged concerns over its high debt levels.

“As the Western countries reindustrialise, engineering R&D companies like LTTS and Tata Elxsi will give us a straightforward ability to benefit from that. Both are proven players, both have shown over the last six years steady growth in their top line, bottom line 20-25% consistent growth in the business. ”

After the Q3FY23 earnings, a host of brokerages have upgraded the target price on a number of scrips.

Companies from the Middle East raised some $21.9 billion through IPOs in 2022, more than half the total for the wider EMEA region, which also includes Europe and Africa, according to Dealogic data.

On the technical charts, the RSI of the stock stood at 30.03.

Dixon Technologies (India), incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 15768.55 Crore) operating in Consumer Durables sector.

A total of 76,138 shares changed hands on the counter till time (IST).

"Government investment has been the driving force for growth. So how much higher interest rates alone will impact growth is very difficult to say because growth is a combination of so many things. But certainly, higher interest rates will not help growth. Here, the RBI has much to answer for as interest rates today higher than they would have been had RBI woken up to its challenge a little earlier."