DOT approves Optiemus Group company's PLI scheme

The Department of Telecommunications, Ministry of Communications has approved the application of GDN Enterprises Private Limited (MSME), a company of Optiemus Group (in the category of Domestic Companies), under the Production Linked Incentive Scheme ('PLI Scheme') for the manufacturing of Telecom and Networking Products in India, on October 14, 2021.

The PLI Scheme intends to promote manufacturing of Telecom and Networking Products in India and proposes a financial incentive to boost domestic manufacturing and attract investments in the target segments of telecom and networking products in order to encourage Make in India. The scheme will also encourage exports of telecom and networking products 'Made in India'.

The PLI scheme extends an incentive of 7% to 4 % on achievement of a minimum threshold of cumulative incremental investment over a period of four years and incremental sales of manufactured goods over the base year 2019-20.

Accordingly, GDN Enterprises Private Limited will commence the production in accordance with the PLI Scheme.

Shares of Optiemus Infracom Limited was last trading in BSE at Rs. 367.60 as compared to the previous close of Rs. 350.10. The total number of shares traded during the day was 41236 in over 1128 trades.

The stock hit an intraday high of Rs. 367.60 and intraday low of 347.50. The net turnover during the day was Rs. 14881647.00.

Source : Equity Bulls

Keywords

OptiemusInfracom INE350C01017 TelecomEquipment PLIScheme