Dixon Technologies Ltd’s share price has surged following a recent development.
On March 10, 2026, Dixon Technologies Ltd’s shares rose by 7.10%, reaching a high of Rs 10,501 on the Bombay Stock Exchange (BSE). This increase comes on the heels of a positive report from Nomura, which retained its ‘Buy’ rating for the company after the Ministry of Electronics and Information Technology (MEITY) approved a joint venture with HKC Overseas Limited.
As of 9:44 am IST on the same day, the stock traded at ₹10,286.00, reflecting an increase of ₹482.00 or 4.92%. Dixon’s market capitalisation now stands at approximately ₹62,550 crore, indicating strong investor confidence.
Nomura has projected a potential upside of 50% for Dixon Technologies, suggesting a target price of Rs 14,678 based on estimated earnings per share for FY28. The firm noted that this joint venture will focus on manufacturing liquid crystal display modules and thin-film transistor liquid crystal display modules, which are crucial for the electronics sector.
The approval of this joint venture is seen as a significant regulatory milestone for Dixon, enabling the company to expand its operations in display manufacturing. The venture is expected to enhance India’s domestic display ecosystem and reduce reliance on imports, thereby strengthening the local manufacturing capacity.
According to Nomura, “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 statement underscores the strategic importance of the joint venture in bolstering Dixon’s market position.
Dixon plans to invest approximately Rs 1,200 crore in the display manufacturing project, with construction of the display plant on track and trials expected to commence from Q2FY27. The joint venture aims to capture a segment of the display module assembly market, which accounts for roughly 10% of the bill of materials and typically carries healthy double-digit margins.
The venture will not only focus on manufacturing but also on enhancing the overall manufacturing capacity across the electronics and automotive segments in India. Nomura emphasized that the joint venture aims to strengthen India’s domestic display ecosystem and reduce dependence on imports.
As the market reacts to these developments, Dixon Technologies is poised for significant growth, with analysts closely monitoring the company’s performance in the coming months.
