Dixon Technologies (India) gained 2.59% to Rs 10,015.65 after the company entered into a term sheet with HKC Corporation to form a joint venture (JV), subject to receipt of necessary statutory approvals and signing of definitive agreements.
The proposed JV will undertake manufacturing of liquid crystal modules (LCM), thin film transistor liquid crystal display modules (TFT-LCD modules), assembly of end products like, smartphones, TVs, monitors and auto displays and selling HKC branded end products to open up local markets in India.HKC Corporation is a technology company focusing on the field of semiconductor display, the main business is to develop and manufacture semiconductor display panels and other core display devices and intelligent display terminals. In terms of intelligent display terminal business, HKC mainly produces smart TV and other TV terminals and displays, all-in-one machines, laptops, tablets, advertising machines, smart fitness goggles and other IT and smart IOT terminals.
Atul B. Lall, vice chairman & managing director said, Dixon Group is, constantly taking strategic initiatives to emerge as one of the domestic champion in electronic space by not only providing manufacturing solutions but also striving to be a trusted source in Technology and R & D space. This venture will give a boost to set up electronic component ecosystem & also deepen the value addition.
Dixon Technologies (India) transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity.
The company reported 20.68% rise in consolidated net profit to Rs 97.30 crore on 51.95% jump in revenue from operations to Rs 4,657.97 crore in Q4 FY24 over Q4 FY23.
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