Optiemus Infracom Limited arm gets approval from MeitY for PLI scheme

The Ministry of Electronics and Information Technology ('MeitY') has approved the application of Optiemus Electronics Limited, a Wholly Owned Subsidiary of Optiemus Infracom Limited (in the category of Domestic Companies) under the Production Linked Incentive Scheme ("PLI Scheme") for the manufacturing of IT Hardware, on July 01, 2021.

The target segments under this PLI scheme include laptops, tablets, all-in-one personal computers (PCs) and Servers. The scheme proposes production-linked incentives to boost domestic manufacturing and attract large investments in the value chain of these IT Hardware products

The PLI extends an incentive of 4% to 2% / 1% on net incremental sales (over the base year of FY 2019-20) of goods under target segments that are manufactured in India to eligible companies for four years (FY22 to FY25).

As per the press release issued on July 01, 2021, over the next 4 years, the approved companies under the PLI Scheme for IT Hardware are expected to lead to a total production of more than Rs. 1.61 lakh crore. The approved companies under Domestic Companies category have proposed a production of INR 76,007 crore.

Accordingly, Optiemus Electronics Limited will commence the production in accordance with the Production Linked Incentive (PLI) Scheme.

Shares of Optiemus Infracom Ltd was last trading in BSE at Rs.159.95 as compared to the previous close of Rs. 165.55. The total number of shares traded during the day was 46152 in over 559 trades.

The stock hit an intraday high of Rs. 168.5 and intraday low of 158. The net turnover during the day was Rs. 7509306.

Source : Equity Bulls

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