Dixon Technologies share price jumps over 4% to a record high on joint venture pact with Vivo India | Stock Market News
Dixon Technologies share price hit a record high on Monday after the company announced to form a joint venture with Vivo India to undertake OEM business of electronic devices, including smartphones. Dixon Technologies shares gained as much as 4.8% to a record high of ₹18,819 apiece on the BSE.
Dixon and vivo India announced the execution of a binding term sheet on December 15, 2024 for a proposed joint venture in India for carrying on the business as an original equipment manufacturer (OEM) of electronic devices including smartphones.
Dixon will hold 51% of the share capital and vivo India will hold 49% of the share capital in the proposed joint venture entity.
Neither Dixon nor vivo India will have any stake in each other. The facility will undertake part of vivo’s OEM orders of smartphones in India, and can also engage in OEM business of various electronic products of other brands, Dixon Technologies (India) said in a regulatory filing.
The parties will agree on an optimum structure and the relevant terms and conditions to be set out in the definitive agreements, it added.
“This partnership further strengthens our strong foothold in the android smartphone ecosystem in India. There is immense potential to further build on shared capabilities together in times to come, to deliver sustainable growth for the proposed venture,” said Atul B. Lall, Vice Chairman and Managing Director of Dixon Technologies.
Dixon Technologies (India) is a home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India.
Dixon Technologies Share Price Trend
Dixon Technologies stock price has given decent returns of over 26.5% in one month and over 66% in six months. The shares have delivered multibagger returns of nearly 190% year-to-date (YTD), and more than 2,500% in the past five years.
At 11:30 AM, Dixon Technologies shares were trading 4.24% higher at ₹18,720.00 apiece on the BSE.
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