PG Technoplast received approval under PLI Scheme of Government of India for White Goods

PG Technoplast Private Limited, a wholly owned subsidiary of PG Electroplast Limited, has received approval from Government of India under the Production Linked Incentive Scheme for White Goods under the Air Conditioner Components category. It will be investing INR 321 Crores over a period of five years which the company has already begun in FY2022.

Commenting on this occasion, Mr. Vikas Gupta, Managing Director (Operations), PG Electroplast Limited said, "We are delighted to have been approved under the PLI scheme for AC components. It is a milestone that showcases our strength in this domain and highlights our commitment towards the government's vision of Atmanirbhar Bharat and the Make in India project. The PLI schemes will go a long way in making India the new global manufacturing hub. To meet the growing business demands we have invested heavily in our infrastructure, R&D and human capital and will continue to do so, to help us cater to our Indian and global customers. I would like to thank the Government of India for their efforts to help the industry and to also congratulate all our peers who have received the approval along with us."

Shares of PG Electroplast Limited was last trading in BSE at Rs. 549.30 as compared to the previous close of Rs. 525.30. The total number of shares traded during the day was 7863 in over 863 trades.

The stock hit an intraday high of Rs. 555.35 and intraday low of 526.00. The net turnover during the day was Rs. 4257524.00.

Source : Equity Bulls

Keywords

PGElectroplastLimited INE457L01011 PGEL PLIScheme WhiteGoods