Pitti Engineering Limited updates on industrial incentive

Pitti Engineering Limited had earlier announced signing of Memorandum of Understanding with Government of Maharashtra (GOM) for availing of industrial incentives and benefits under the Package Scheme of Incentives (PSI) 2013 (Scheme) consequent to the Aurangabad facility of the Company being granted the 'Mega Project' status by the GOM.

The Company has received a letter on 1st April 2022 from Directorate of Industries, GOM, pursuant to which an industrial policy subsidy amount of INR 1239.69 lakhs has been approved for the period from 01.04.2020 to 31.03.2021 of which a provisional amount of INR 929.76 lakhs has been sanctioned as per the terms and conditions specified in the said letter, and the balance amount will be sanctioned as per the terms of the Scheme.

Shares of Pitti Engineering Limited was last trading in BSE at Rs. 323.30 as compared to the previous close of Rs. 322.85. The total number of shares traded during the day was 67679 in over 2968 trades.

The stock hit an intraday high of Rs. 339.00 and intraday low of 318.85. The net turnover during the day was Rs. 22185445.00.

Source : Equity Bulls

Keywords

PittiEngineering INE450D01021 IndustrialPolicySubsidy Sanctioned