Dixon Technologies share price surged by as much as 7%, reaching a day’s high of ₹10,501 on the BSE on Tuesday, March 10, following the approval from the Ministry of Electronics and Information Technology (MeitY) for a joint venture with the Chinese company HKC Overseas Ltd. to produce display modules.
The company announced that its fully owned subsidiary, Dixon Display Technologies Pvt. Ltd (DDTPL), will be transitioned into a joint venture entity. Dixon will retain a 74% ownership stake in the venture, while HKC Overseas will possess the remaining 26%.
(more to come)