Dixon Technologies Ltd shares experienced a notable increase following the approval of a joint venture with HKC.
On March 10, 2026, Dixon Technologies Ltd saw its share price rise by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE). This surge comes after Nomura retained its ‘Buy’ rating on the company, projecting a potential upside of 50% based on the recent developments.
The stock was trading at ₹10,286.00, up ₹482.00 or 4.92% as of 9:44 am IST on the same day. The market capitalization of Dixon Technologies stood at approximately ₹62,550 crore, reflecting strong investor confidence in the company’s future prospects.
The recent approval from the Ministry of Electronics and Information Technology (MEITY) clears a key regulatory hurdle for Dixon’s planned expansion into display manufacturing through a strategic partnership with HKC Overseas Limited. This joint venture aims to manufacture liquid crystal display modules and thin-film transistor liquid crystal display modules, which are essential components in various electronic devices.
Nomura has suggested a target price of Rs 14,678 based on estimated earnings per share for FY28, indicating a strong belief in the company’s growth trajectory. The joint venture is expected to enhance Dixon’s value addition, particularly in the display module assembly sector, which accounts for roughly 10% of the bill of materials and typically carries healthy double-digit margins.
Dixon plans to invest approximately Rs 1,200 crore in this display manufacturing project, with construction of the display plant on track and trials likely to commence from Q2FY27. This strategic move is expected to strengthen India’s domestic display ecosystem, reduce dependence on imports, and enhance manufacturing capacity across the electronics and automotive segments.
Nomura commented, “This along with camera modules, which is already in ramp-up stage, will increase value addition by Dixon and remains a longer-term structural margin tailwind, in our view.” The joint venture is seen as a significant step towards bolstering local manufacturing capabilities in the electronics sector.
Overall, the developments surrounding Dixon Technologies Ltd and its joint venture with HKC have generated positive reactions from investors and analysts alike, signaling a promising outlook for the company’s future in the competitive electronics market.
