Dixon Tech shares rally 5% amid reports of government nod for Vivo JV this month

Dixon Technologies shares rallied 5% after reports that an inter-ministerial panel has given in-principle approval to its joint venture with Chinese smartphone maker Vivo, with MeitY clearance expected this month. The JV, signed in December 2024, will see Dixon hold a 51% majority stake and focus on manufacturing smartphones and other electronic devices, with Vivo's Noida facility likely becoming part of the venture. Separately, Dixon Electroconnect, a Dixon subsidiary, entered into a JV with Gemtek Technology for manufacturing optical transceivers and telecom products, with Dixon holding 60% and Gemtek 40%.