Shares of Dixon Technologies rose as much as 4.5% to ₹14,954 on the National Stock Exchange on Friday after Nomura reiterated its Buy rating and raised its price target to ₹21,409, the highest forecast among brokerages covering the stock. The Japanese firm said Dixon is poised to capture a dominant share of India’s mobile electronics manufacturing-services market, helped by Original Design Manufacturing partnerships and growing export orders from brands such as Motorola. Nomura projects Dixon’s smartphone production to climb to 45 million units in fiscal 2026 and 64 million in 2027, underpinned by tariff-driven shifts in global supply chains and the company’s capacity expansions. The brokerage flagged additional upside catalysts, including regulatory clearances for existing alliances and new customer wins. The gain in Dixon extended a broader advance in Indian technology names. Coforge and HCL Technologies each added about 3% amid a rally in the Nasdaq and renewed expectations that the US Federal Reserve could cut interest rates sooner than previously anticipated. Despite Friday’s jump, Dixon shares remain roughly 20% lower for the year to date.