Rajesh Exports Signs Programme Agreement with Government of India for production of Advanced Chemistry Cells

Rajesh Exports Ltd. (BSE: 531500, NSE: RAJESHEXPO) has been selected by the Government of India for production of Advanced Chemistry Cells (Energy Storage Lithium Ion Cells) for the Rs. 18100 Crores Production Linked Incentive scheme. Rajesh Exports is one among the only three Company's selected after thorough scrutiny for the prestigious scheme. The other two being Reliance Industries and Ola Electric.

In this regard Rajesh Exports signed a Programme Agreement with the Ministry of Heavy Industries, Government of India on 28th July 2022 at New Delhi for manufacture of Advance Chemistry Cell under the production linked incentive scheme.

Rajesh Exports will be setting up the world's finest 5 GWh Lithium Ion Cell manufacturing plant with the finest and the most futuristic technology. Setting up of manufacturing plant of Lithium Ion Cells will usher in a true revolution in India for advanced and futuristic technology. Manufacture of Lithium Ion Cells will ensure the production of Indian made Lithium Ion Batteries and will usher in an Electric Mobility revolution in India.

Commenting on the development, Mr Rajesh Mehta, Chairman, Rajesh Exports Limited said, "Rajesh Exports is keen to participate and lead the next generation technology revolution in India. We were ranked as the Number 1 Company from among the several Company's which participated in the prestigious Advanced Chemistry Cells production PLI Scheme of the Government of India and were the top Company from only 3 Company's selected out of the several Company's for the Scheme."

Shares of Rajesh Exports Limited was last trading in BSE at Rs. 594.50 as compared to the previous close of Rs. 589.35. The total number of shares traded during the day was 53720 in over 2456 trades.

The stock hit an intraday high of Rs. 623.80 and intraday low of 588.40. The net turnover during the day was Rs. 32317631.00.

Source : Equity Bulls

Keywords

RajeshExports INE343B01030 GovernmentofIndia PLIScheme AdvancedChemistryCells LithiumIonCells EnergyStorage