Dixon Technologies signs binding term sheet with Vivo India for proposed electronic devices JV

Dixon Technologies Ltd., shares of which like almost about tripled in price up to now in 2024, presented the signing of a binding term sheet with Vivo India for a proposed joint project.

In an alternate submitting on Sunday, December 16, Dixon acknowledged that the proposed JV will undertake OEM industrial of electronic devices, together with smartphones.

Dixon will absorb 51% stake within the JV company, whereas Vivo India will absorb the rest. The company also clarified that neither company can like a stake in a single yet every other.

The JV company will undertake a part of Vivo India’s OEM orders of smartphones in India and would possibly additionally also have interaction within the OEM industrial of assorted electronic merchandise of different manufacturers.

This transaction shall be arena to execution of such definitive agreements, completion of mature prerequisites precedent and receipt of acceptable regulatory approvals, together with those wished below the foreign alternate licensed pointers in India.

“We believe that this association will bolster our manufacturing excellence and superior execution abilities and Vivo’s leadership in the Indian business ecosystem. This partnership further strengthens our strong foothold in the android smartphone ecosystem in India,” Dixon Technologies’ Vice Chairman and MD Atul B. Lall changed into as soon as quoted as pronouncing.

Earlier this month, Brokerage firm Nomura maintained its “buy” recommendation on shares of Dixon Technologies with a cost procedure of ₹18,654, which is the very best for the stock on the avenue.

Nomura wrote in its present that China+1 would possibly additionally lead to most valuable lengthy-term positives for Dixon from Google because it begins to mass create its Pixel smartphones.

Shares of Dixon Technologies ended 1.6% bigger on Friday at ₹17,980, with the stock having risen 180% up to now in 2024. Over a 5-three hundred and sixty five days length, the stock has risen 2,322%