Shares of Dixon Technologies rose over 5% in early deals today amid a report that the government was likely to approve its merger with Vivo soon. The approval is expected within the next 10 days. The proposal has already been cleared by the inter-ministerial committee, according to report in NDTV Profit. The stock has gained 25% in three months and 12% in a week. 
The Chinese mobile giant Vivo is expected to contribute 22-23 million smartphone units annually through the joint venture. The development may provide a major boost to India's electronics manufacturing ecosystem. 

Vivo has a massive volume in India, having sold an estimated 3.5 crore (35 million) handsets in 2025

The JV is expected to open an estimated Rs 30,000 crore revenue pipeline for Dixon Technologies. Nearly 67% (or 22 million units) of Vivo's localized annual volume is expected to shift to Dixon.  

Dixon Technologies shares rose 5.44% to Rs 12889.95 on Tuesday against the previous close of Rs 12,224.80. Market cap of the firm stood at Rs 78,648 crore. Turnover rose to Rs 94.67 crore as 0.74 lakh shares of the firm changed hands amounting to a turnover of Rs 94.71 crore. 

Shares of Dixon Technologies are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day but lower than the 200 day moving averages, signalling the trend is mixed for the market leader in its segment. 

The stock has fallen 30% from its 52 week high of Rs 18,471 reached on September 25, 2025. 

The stock hit a 52 week low of Rs 9605 on March 30 this year. 

Macquarie has an 'outperform' call on Dixon Tech but has cut the target price from Rs 18,000 to Rs 15,000. The brokerage cited the earnings miss for price target cut as increased memory prices caused lower mobile volumes while the consumer durable segment was weak.

FY27 will mark the trough for Dixon Tech, with revenue growth and margin expansion likely to come back in FY28, said Macquarie adding that Dixon Tech's current valuation takes into account the ongoing headwinds.

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.