Dixon Technologies’ shares surged over 2% after announcing a strategic partnership with Vivo India. On December 15, 2024, the companies signed a binding term sheet to establish a joint venture (JV) focused on manufacturing electronic devices, including smartphones, in India.
In the JV, Dixon will hold a 51% stake, with Vivo India owning 49%. The collaboration aims to strengthen India’s electronic manufacturing ecosystem while ensuring independence, as neither company will hold shares in the other.
The venture’s finalization is subject to signing definitive agreements, regulatory approvals, and compliance with foreign exchange control laws.
Dixon Technologies’ stock surged to a new 52-week high of ₹18,438 today, opening at ₹18,212. As of 9:20 am, the shares were trading 2.37% higher at Rs 18,380.30 on the NSE.
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