Brokerages had mixed reactions: Kotak retained its Buy rating with a target price of ₹15,200 after Dixon beat expectations by 22%, and Equirus upgraded its rating thanks to strong cash flow.
CLSA and Jefferies stayed cautious due to valuation worries and memory price risks, cutting their targets but keeping Neutral and Hold ratings.
Macquarie kept its "Outperformer" tag with a target of ₹15,000.
The share rally was mostly tied to strong consumer electronics sales and higher prices for mobiles, so even with profits down, investors saw reasons to cheer.