Shares of Dixon Technologies (India) Ltd surged 6% to touch a day’s high of Rs 10,530 on 10th March. This happened after the company said it had received approval from the Ministry of Electronics and Information Technology (MEITY) to form a joint venture with HKC Overseas Ltd.

The move will convert Dixon’s wholly owned subsidiary, Dixon Display Technologies Private Ltd (DDTPL), into a joint venture. In this arrangement, Dixon will hold 74% and HKC Overseas 26% equity.

The joint venture will focus on developing, manufacturing and distributing advanced display modules, including liquid crystal modules and thin-film transistor LCDs. These components will be used in mobile phones, notebooks, automotive displays, televisions, monitors and industrial applications.

The partnership is expected to support domestic electronics manufacturing and reduce dependence on imports. Moreover, it will strengthen the local component ecosystem under the Make in India initiative.

The arrangement follows a share subscription and shareholders’ agreement signed on 16th August, 2025. HKC’s investment required government approval under Press Note 3 of 2020 and the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019. This was due to cross-border investment regulations.

Once the transaction is completed, Dixon Display Technologies will operate as a joint venture company. This will combine Dixon’s manufacturing presence in India with HKC’s global expertise in display technology.

Dixon Technologies Third Quarter Results

In its third-quarter results, Dixon reported revenue of Rs 10,671 crore, up 2.1% year over year. The company’s EBITDA stood at Rs 414.6 crore, rising 5.8% from last year. Additionally, EBITDA margins improved to 3.9% from 3.75%.

At 12:27 PM, shares of Dixon Technologies were trading 5.86% higher at Rs 10,379 on the NSE.

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