This Indian smartphone company's stock hit an upper circuit!
China has received a big blow from India. Actually, China's multinational company Vivo will now make smartphones inside india at the mercy of India. Due to the policy pressure of the indian government, Chinese company Vivo has been forced to form a joint venture with indian company Dixon Technologies. In this joint venture, 51 percent shares will be of Dixon Technology. 49 percent shares will be of Vivo company. That is, the Chinese mobile giant will produce smartphones in india as a junior partner of the indian company. After this news, the shares of Dixon Technologies have jumped by five percent.
The stock reached a record high
On Monday, after the market opened in the morning, the shares of Dixon Technologies touched record heights and reached an all-time high, creating a record. In the last five years, Dixon's shares have given a return of 2416 percent. On december 15 itself, Dixon had announced to form 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 price was jumping to Rs 18,785 on the National Stock Exchange. At the same time, it was trading at Rs 18,791 on the bombay Stock Exchange. Dixon's shares have risen 8.68 percent in the last five days. It has jumped 26.06 percent in a month. It has risen 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
The partnership with Vivo will help Dixon Technologies to make a strong 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 Android market of india with strength.