Dixon’s shares jumped 3.15% during intraday trading to reach the ₹12,082 level. This deal could prove to be a significant milestone for the Indian electronics manufacturing sector.
Dixon Technologies share rise over 3%: Shares of Dixon Technologies, a leading Indian contract manufacturer, surged more than 3% on Tuesday. Under this proposed partnership, Dixon will hold a majority stake of 51%, while Vivo India will retain a 49% stake.
This news has come amid buzz surrounding the partnership between Dixon Technologies and Vivo. The long-pending joint venture is expected to receive formal government approval soon. According to report Dixon’s shares jumped 3.15% during intraday trading to reach the ₹12,082 level. This deal could prove to be a significant milestone for the Indian electronics manufacturing sector. As it would bring the local production of a top smartphone brand under the control of Indian management.
However, neither Dixon nor Vivo has issued an official statement regarding these developments so far. This move is expected not only to reduce regulatory risks for Chinese companies in India but also to significantly boost local value addition under the ‘Atmanirbhar Bharat’ (Self-Reliant India) initiative.
ALSO READ: Bengal Announces Monthly Aid for Unemployed, Pension for Journalists
