Shares of Dixon Technologies (India) Ltd rose 5% on June 17, 2026, following reports that the government has approved a joint venture (JV) between the company and Chinese smartphone maker Vivo. The stock closed at ₹12,345.67 on the BSE, up from the previous close of ₹11,757.78.
The JV, announced in late 2025, aims to manufacture Vivo smartphones in India, aligning with the government's push for local production under the Production Linked Incentive (PLI) scheme. According to sources, the approval from the Ministry of Electronics and Information Technology (MeitY) came after due diligence on compliance with local sourcing and technology transfer norms.
Analysts at Motilal Oswal Financial Services said the JV could add ₹500 crore to Dixon's annual revenue by FY2028. However, the company has not yet issued an official statement confirming the approval. The stock has gained 35% year-to-date, outperforming the broader market.
