Dixon Technologies Ltd’s share price has experienced a notable increase following the recent approval of a joint venture with HKC Overseas Limited.
On March 10, 2026, the 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 share price stood 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 setting a target price of Rs 14,678 based on estimated earnings per share for FY28. This positive outlook comes on the heels of the Ministry of Electronics and Information Technology (MEITY) granting approval for the joint venture.
The joint venture aims to manufacture liquid crystal display modules and thin-film transistor liquid crystal display modules, which are crucial for enhancing India’s domestic display ecosystem. This initiative is expected to reduce dependence on imports and bolster local manufacturing capabilities.
Dixon 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. Display module assembly, which constitutes about 10% of the bill of materials, typically carries healthy double-digit margins, further enhancing the company’s growth prospects.
Nomura highlighted that this venture, alongside the ramp-up of camera modules, will significantly increase value addition for Dixon, providing a long-term structural margin tailwind.
The approval marks a critical regulatory milestone for Dixon’s expansion into display manufacturing through this strategic partnership with HKC. The joint venture is poised to strengthen India’s position in the electronics and automotive segments, enhancing overall manufacturing capacity.
As Dixon Technologies continues to navigate this new venture, the market is closely monitoring the developments and their implications for the company’s future performance.
Details remain unconfirmed regarding the exact timeline for the commencement of production and the full scale of operations under the joint venture.
