Dixon technologies: China has received a big blow from India. Actually, Chinese multinational company Vivo will now make smartphones inside India at the mercy of India. Due to policy pressure from the Indian government, Chinese company Vivo has been forced to form a joint venture with Indian company Dixon Technologies. Dixon Technology will hold 51 percent shares in this joint venture. 49 percent shares will remain with Vivo company. That means the Chinese mobile giant will produce smartphones in India as a junior partner of the Indian company. After this news, shares of Dixon Technologies have jumped by five percent.
Share reached record high
After the market opened on Monday morning, the shares of Dixon Technologies touched record highs and reached all-time high, creating a record. In the last five years, Dixon shares have given 2416 percent return. On December 15 itself, Dixon had announced the formation of a joint venture with Vivo. After that, as soon as the market opened, Dixon’s shares started rising. In the afternoon, the company’s share prices were jumping at Rs 18,785 in the National Stock Exchange. Whereas in Bombay Stock Exchange it was trading at Rs 18,791. Dixon’s shares have risen 8.68 percent in the last five days. There has been a jump of 26.06 percent in a month. There has been an increase of 61.76 percent in the last six months and 197.75 percent in a year. The total market capital has reached Rs 1 lakh 12 thousand 183 crore.
The company will make a strong hold in the smartphone market
Partnership with Vivo will help Dixon Technologies to gain a stronger hold in the smartphone market. Vivo India CEO Jerome Chen has expressed happiness about the proposed venture. He said that the term sheet has been signed with Dixon. We will enter the Indian Android market with strength.
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