Dixon Technologies and Signify Join Forces for 'Make in India' Lighting Push

and Signify Innovations India Ltd. have established a 50:50 joint venture (JV) for OEM manufacturing of lighting products and accessories in India. Both companies will share equal ownership but will not hold stakes in each other’s businesses. The JV aligns with the ‘Make in India’ initiative, fulfilling Signify’s OEM lighting orders and serving other brands. Meanwhile, the Ministry of Electronics and IT (MeitY) has finalized a ₹25,000 crore Production-Linked Incentive (PLI) scheme to boost domestic electronics manufacturing. Expected to attract ₹40,000-45,000 crore in investments, the scheme focuses on key components like batteries, displays, camera modules, and PCBs, reducing import reliance. Set for Cabinet approval this week, it replaces the SPECS scheme, which ended in March 2024, reinforcing India’s push to become a global electronics manufacturing hub. Technically, Dixon Technologies is showing signs of consolidation within a key support zone around ₹12,770-13,000 after a strong correction from its peak near ₹18,500. The 1-day chart indicates a rejection near ₹14,700, aligning with the 9-day EMA and horizontal resistance, while the 70-day EMA at ₹15,376 is also acting as a barrier. The 100-day MA at ₹15,618 suggests that sustained upside momentum is unlikely unless it clears these levels. The weekly chart reveals a broader downtrend with the RSI hovering around 44, signaling weak momentum. If the stock fails to hold ₹12,770, it could slide further towards ₹11,000, but a breakout above ₹14,700 may push it back to ₹15,800-16,000 in the short term. Until then, expect range-bound movement with a bearish bias. I have attached the daily chart of for your reference Follow me for more such updates, Thank You!