On March 10, 2026, Dixon Technologies Ltd shares rose by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE). This surge comes in the wake of government approval for a joint venture with HKC Overseas Limited, which is expected to enhance Dixon’s manufacturing capabilities in the display sector.

As of 9:44 am IST on the same day, the stock traded at ₹10,286.00, reflecting an increase of ₹482.00 or 4.92%. The company’s market capitalisation now stands at approximately ₹62,550 crore, indicating strong investor confidence.

Nomura has retained its ‘Buy’ rating on Dixon Technologies, citing a potential upside of 50% in the stock price. The investment firm has suggested a target price of Rs 14,678 based on estimated earnings per share for FY28.

The joint venture aims to manufacture liquid crystal display modules and thin-film transistor liquid crystal display modules, which are crucial for the electronics market. Display module assembly accounts for roughly 10% of the bill of materials and typically carries healthy double-digit margins, making it a significant area for growth.

Nomura highlighted that this venture, alongside the ramp-up of camera modules, will enhance value addition for Dixon and serve as a long-term structural margin tailwind.

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 into display manufacturing through this strategic partnership.

According to Nomura, the joint venture is poised to strengthen India’s domestic display ecosystem, reduce dependence on imports, and enhance manufacturing capacity across the electronics and automotive segments.

As Dixon Technologies continues to expand its operations, the market will be closely watching the performance of its shares and the impact of this joint venture on its overall business strategy.

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