Dixon Tech shares rocket 7%, reclaim ₹10,000 mark after government clears JV with China’s HKC

Shares of Dixon Technologies (India) Ltd. rallied as much as 7% to their day’s high of ₹10,501 on the BSE on Tuesday after the company received approval from the Ministry of Electronics and Information Technology (MeitY) to form a joint venture with Chinese firm HKC Overseas Ltd. to manufacture display modules.

The company said its wholly owned subsidiary, Dixon Display Technologies Pvt. Ltd. (DDTPL), will be converted into a joint venture entity. Dixon will hold a 74% stake in the business, while HKC Overseas will own the remaining 26%.