Dixon Technologies Ltd’s share price has surged following a significant development.
On March 10, 2026, the company saw its stock rise by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE) after receiving government approval for a joint venture with HKC Overseas Limited.
As of 9:44 am IST on the same day, Dixon’s shares traded at ₹10,286.00, reflecting an increase of ₹482.00 or 4.92%. The market capitalisation of Dixon Technologies stood at approximately ₹62,550 crore, indicating strong investor confidence.
Nomura has retained its ‘Buy’ rating on Dixon Technologies, suggesting a potential upside of 50% with a target price of Rs 14,678 based on estimated earnings per share for FY28. This optimistic outlook is bolstered by the company’s strategic expansion into display manufacturing.
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 and reducing reliance on imports.
Nomura highlighted that display module assembly accounts for roughly 10% of the bill of materials and typically carries healthy double-digit margins. This expansion is expected to increase value addition by Dixon, particularly alongside its ongoing ramp-up of camera modules.
Dixon plans to invest approximately Rs 1,200 crore in the display manufacturing project, with construction of the display plant on track and trials expected to commence from Q2FY27.
The approval from the Ministry of Electronics and Information Technology (MEITY) clears a key regulatory hurdle for Dixon’s planned expansion, paving the way for enhanced manufacturing capacity across the electronics and automotive segments.
Nomura stated, “The joint venture aims to strengthen India’s domestic display ecosystem, reduce dependence on imports and enhance manufacturing capacity across the electronics and automotive segments.” This reflects the growing importance of local manufacturing in the current economic landscape.
As Dixon Technologies continues to expand its operations, the market will be closely watching the developments in this joint venture and its impact on the company’s future performance.
