Mumbai/IBNS, June 17 -- Shares of Dixon Technologies Ltd. rallied on Wednesday amid reports that the government is likely to approve the company's proposed joint venture with Chinese smartphone maker Vivo, according to media reports.

Approval Buzz Fuels Buying Interest

The rally followed reports that an inter-ministerial committee discussed and cleared the proposed joint venture during a meeting held on Saturday.

However, the government has not yet officially confirmed the approval.

Potential Rs 30,000 Crore Opportunity

Investors welcomed the reports as the proposed partnership is expected to open up a significant revenue opportunity for Dixon Technologies.

Vivo Production May Shift to JV

If the proposal receives formal approval, a...