Dixon Tech stock rallies 3%, tops Rs 10K mark for first time; details here

Dixon Tech stock soars: Shares of Dixon Technologies climbed as much as 3.30 per cent to hit a fresh all time high of Rs 10,085 on Friday. 

This uptick in stock price followed the company's announcement of its intention to establish a joint venture (JV) with HKC Corporation, pending necessary regulatory approvals and the finalisation of agreements.

The proposed JV aims to engage in the manufacturing of liquid crystal modules (LCM) and thin-film transistor liquid crystal display modules (TFT-LCD modules), along with assembling various end products such as smartphones, TVs, monitors, and auto displays. Furthermore, it plans to market HKC branded end products to tap into local markets within India.

HKC Corporation, renowned for its expertise in semiconductor display technology, primarily focuses on developing and manufacturing semiconductor display panels and other core display devices, as well as intelligent display terminals. Notably, HKC's intelligent display terminal portfolio encompasses smart TVs, TV terminals, all-in-one machines, laptops, tablets, advertising machines, smart fitness goggles, and other IT and smart IoT terminals.

“Dixon Group is constantly taking strategic initiatives to emerge as one of the domestic champions in electronic space by not only providing manufacturing solutions but also striving to be a trusted source in Technology and R&D space. I am delighted to announce that Dixon has signed a term sheet with HKC Corporation Limited for manufacturing of liquid crystal modules, TFT- LCD modules and displays etc. This venture will give a boost to set up electronic component ecosystem & also deepen the value addition,” said Atul B Lall, vice chairman & managing director of Dixon Technologies. 

Dixon Technologies (India) Limited is a domestic powerhouse in design-focused solutions, specialising in manufacturing consumer durables, lighting solutions, and mobile phones within the Indian market. The product range includes consumer electronics, notably LED TVs; home appliances, including washing machines; lighting products such as LED bulbs, tubelights, and downlighters; mobile phones; CCTV & DVRs; wearables; and refrigerators.

Additionally, Dixon extends its expertise into reverse logistics, offering repair and refurbishment services for LED TV panels. 

The market capitalisation of Dixon Technologies is Rs 60,069.95 crore, according to Bombay Stock Exchange (BSE).

At 12:21 PM, shares of Dixon Tech were trading 2.84 per cent higher at Rs 10,039.60 per share. By comparison, BSE Sensex was trading 1.62 per cent higher at 76,292.29 levels.