Dixon Technologies Ltd’s share price has experienced a notable increase following the recent approval for a joint venture with HKC Overseas Limited.
On March 10, 2026, Dixon’s stock rose by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE). As of 9:44 am IST, the stock was trading at ₹10,286.00, reflecting a gain of ₹482.00 or 4.92%.
Nomura has retained its ‘Buy’ rating on Dixon Technologies, suggesting a potential upside of 50% and a target price of Rs 14,678 based on estimated earnings per share for FY28. The firm noted that this joint venture is a significant step in enhancing Dixon’s value addition in the electronics sector.
The joint venture, which will focus on manufacturing liquid crystal display modules and thin-film transistor liquid crystal display modules, aims to bolster India’s domestic display ecosystem and reduce reliance on imports. This move is expected to strengthen Dixon’s market position in the electronics manufacturing services sector.
Dixon Technologies plans to invest approximately Rs 1,200 crore in the display manufacturing project, with construction of the display plant on track and trials anticipated to commence from Q2FY27. The display module assembly is projected to contribute around 10% to the bill of materials, typically yielding healthy double-digit margins.
Nomura highlighted that the joint venture, alongside the ramp-up of camera modules, will enhance Dixon’s value addition and serve as a long-term structural margin tailwind.
The approval from the Ministry of Electronics and Information Technology (MEITY) clears a crucial regulatory hurdle for Dixon’s expansion plans. This strategic partnership with HKC is expected to significantly enhance manufacturing capacity across the electronics and automotive segments.
Dixon Technologies, recognized as one of India’s largest electronics manufacturing services companies, continues to position itself for growth in a competitive market.
As the company moves forward with its ambitious plans, the market will be closely watching the developments in this joint venture and its impact on Dixon’s share price.
Details remain unconfirmed regarding the exact timeline for the commencement of production and further operational specifics of the joint venture.
