Dixon Tech shares zoomed all time high level 4.87 per cent on the NSE (National Stock Exchnage), after the company’s exchange filling revealed, the chinese smartphone manufacturing giant VIVO will set up a JV (Joint venture), with Dixon Technologies to manufacture smartphones and electronic devices.
The shares of the Dixon tech went on to touch the All time high level of Rs 18,830.00 per share on the NSE (National Stock Exchange), after hitting the opening bell at Rs 18,212.00 per share on the bourses,
Dixon Tech share were trading around Rs 18,676.70 per share on the NSE (National Stock Exchange), with surge of 4.02 per cent amounting to a Rs 722.30 per share on the bourses.
Vivo India will own the remaining 49 per centof the joint venture, with Dixon holding the majority stake of 51 per cent.
‘Dixon Technologies (India) Limited (Dixon) and Vivo Mobile India Private Limited (Vivo India) sign a binding term sheet for a proposed joint venture to undertake OEM business of electronic devices, including smartphones,’ according to the filing.
New JV will service Vivo’s OEM business and other componants
Vivo India and Dixon, however, will not own any shares in one another. In addition to fulfilling a portion of Vivo’s original equipment manufacture (OEM) orders for smartphones in India, the facility is capable of handling OEM business for a range of other companies’ electrical items.
Dixon Tech Q2 FY25
Dixon Technologies (India), announced a more than threefold increase in its consolidated net profit to Rs 411.7 crore for the quarter ending September 30, 2024 (Q2 FY25). This increase was mostly due to the impressive performance of its Mobile and EMS Division.
In July-September of last year, the firm reported a net profit of 113.36 crore. The company’s operating revenue doubled to Rs 11,534.08 crore during the September quarter. It was Rs 4,943.18 crore during the previous year.
