Dixon Technologies India Ltd enters into a Term sheet with HKC Corporation Limited

Dixon Technologies (India) Limited ("Dixon") and HKC Corporation Limited ("HKC") enters into a Term Sheet for prospective Joint Venture arrangement for 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 in India.

Dixon has entered into a Term Sheet with HKC to form a Joint Venture subject to receipt of necessary statutory approvals and signing of definitive agreements.

The proposed JV Company 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 Ltd 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."

Commenting on this occasion, Mr. Atul B. Lall, Vice Chairman & Managing Director, stated that "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. I am delighted to announce that Dixon has signed a Term Sheet with HKC Corporation Limited for manufacturing of Liquid Crystal Modules, TFT- LCD Modules and Displays etc. This venture will give a boost to set up electronic component ecosystem & also deepen the value addition."

Shares of Dixon Technologies (India) Limited was last trading in BSE at Rs. 9762.35 as compared to the previous close of Rs. 9466.25. The total number of shares traded during the day was 10708 in over 3203 trades.

The stock hit an intraday high of Rs. 9854.05 and intraday low of 9466.25. The net turnover during the day was Rs. 103694792.00.

Source : Equity Bulls

Keywords

DixonTechnologiesIndia INE935N01020 TermSheet HKCCorporation JVArrangement