Dixon Technologies Ltd’s share price has surged following a positive development regarding its joint venture with HKC Overseas Limited.
On March 10, 2026, the stock rose by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE). As of 9:44 am IST, the stock traded at ₹10,286.00, marking an increase of ₹482.00 or 4.92%.
Nomura has retained its ‘Buy’ rating on Dixon Technologies, suggesting a potential upside of 50% for the shares. The firm has set a target price of Rs 14,678 based on estimated earnings per share for FY28.
The recent approval from the Ministry of Electronics and Information Technology (MEITY) clears a significant regulatory hurdle for Dixon’s planned expansion into display manufacturing through a strategic partnership with HKC. This joint venture aims to manufacture liquid crystal display modules and thin-film transistor liquid crystal display modules, which are essential components in various electronic devices.
Dixon plans to invest approximately Rs 1,200 crore in this display manufacturing project, which is expected to enhance the company’s value addition in the electronics sector. According to Nomura, this venture, along with the ramp-up of camera modules, will provide a longer-term structural margin tailwind for Dixon.
Currently, Dixon’s market capitalisation stands at around ₹62,550 crore. The joint venture is anticipated to strengthen India’s domestic display ecosystem, thereby reducing dependence on imports and enhancing manufacturing capacity across the electronics and automotive segments.
Display module assembly accounts for roughly 10% of the bill of materials and typically carries healthy double-digit margins, making this venture strategically significant for Dixon.
Nomura stated, “This along with camera modules, which is already in ramp up stage, will increase value addition by Dixon and remains a longer term structural margin tailwind, in our view.” This reflects strong confidence in the company’s future prospects.
Overall, the developments surrounding Dixon Technologies Ltd and its share price reflect a positive outlook in the market, driven by strategic partnerships and government support.
As the company moves forward with its plans, the market will be closely watching the progress of the display plant construction, with trials expected to commence from Q2FY27.
