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Dixon Technologies shares surged over 4% in early trade on June 17 after reports suggested that the Indian government is likely to approve the company’s proposed joint venture with Chinese smartphone maker Vivo later this month.
As of 10:33 AM, Dixon Technologies stock was trading near its intraday high after touching ₹12,859 during the session, compared to the previous close of ₹12,235. The stock opened at ₹12,325 and recorded a trading volume of over 7.9 lakh shares.
According to sources cited by PTI, an inter-ministerial panel has already granted in-principle approval to the proposed venture. The final clearance is expected from the Ministry of Electronics and Information Technology (MeitY) after the completion of regulatory procedures.
The joint venture agreement between Dixon Technologies and Vivo was signed in December 2024. Under the arrangement, Dixon Technologies will hold a majority stake of 51%, while the partnership will focus on manufacturing smartphones and other electronic devices in India.
Reports indicate that Vivo’s manufacturing facility in Noida may become part of the joint venture. The facility is expected to cater to a portion of Vivo’s original equipment manufacturing (OEM) requirements in India and could also undertake contract manufacturing for other electronics brands.
Dixon Technologies share price Performance (10:33 AM)
| Particulars | Value |
|---|---|
| Open Price | ₹12,325.00 |
| Day's Low | ₹12,325.00 |
| Day's High | ₹12,859.00 |
| Previous Close | ₹12,235.00 |
| 52-Week Low | ₹9,600.00 |
| 52-Week High | ₹18,471.00 |
| Volume | 7,90,603 Shares |
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