HFCL receives approval from SIDBI for PLI scheme

HFCL Ltd has received an approval from Small Industries Development Bank of India (SIDBI), Project Management Agency (PMA) and Competent Authority appointed under the Production Linked Incentive (PLI) Scheme, vide its approval letter no. PLI/GSCV/OUT/17203/ND2 dated October 31, 2022, for availing the benefits under PLI Scheme and to avail incentives under the PLI Scheme up to Rs.652.79 crores, on production and sales of Telecom and Networking Products, spread over a period of five years, during financial year 2022-23 to 2026-27.

The PLI Scheme is aimed at making India a global manufacturing hub for Telecom and Networking Products and is also expected to boost export of Telecom and Networking Products under "Make in India" initiative.

Shares of HFCL Limited was last trading in BSE at Rs. 82.75 as compared to the previous close of Rs. 76.95. The total number of shares traded during the day was 2950352 in over 12801 trades.

The stock hit an intraday high of Rs. 83.35 and intraday low of 77.85. The net turnover during the day was Rs. 238836048.00.

Source : Equity Bulls

Keywords

HFCL INE548A01028 PLIScheme SIDBI Approval