MC BudEx falls 3% dragged down by Dixon Technologies, Adani Ports

Of the total 30 stocks, Dabur India, ITC, Tata Power and Mahindra & Mahindra were the only stocks that ended in green

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As bears gripped Dalal Street, Moneycontrol’s Budget Sensitivity Index (MC BudEx) fell 3.04 percent on January 27 dragged down by infrastructure, manufacturing, and banking names. In comparison, Nifty and Sensex fell about 1.5 percent each.

Top losers on the MC BudEx were Dixon Technologies, Adani Ports, IRB Infra, and Bank of Baroda. Of the total 30 stocks, Dabur India, ITC, Tata Power, and Mahindra & Mahindra were the only stocks that ended in the green.

Electronics manufacturing services firm Dixon Technologies was the biggest loser, falling over 18 percent after the company cut its FY23 revenue guidance to Rs 12,200 crore ?Rs 12,700 crore from Rs 15,000 crore.

The company’s revenue from operations fell 22 percent year-on-year to Rs 2,405 crore. “We have lowered our guidance primarily due to a slowdown in the mobile business. There is a likelihood of FY24 revenue guidance to be lowered from Rs 19,000 crore,” group CFO Saurabh Gupta told