Rexnord Electronics & Controls Ltd updates on Industrial Promotion Subsidy

Rexnord Electronics & Controls Ltd has received Provisional Sanction for the Industrial Promotion Subsidy (IPS) as follows:

i. An amount of Rs.84.43 lakh (Rupees Eighty-Four Lakh Forty-Three Thousand only), 85% of admissible II1S of Rs.99.34 lakh (Rupees Ninety-Nine lakh Thirty-Four Thousand only) for the period from 01.08.2023 to 31.03.2024.

ii. An amount of Rs.128.95 lakh (Rupees One Crore Twenty-Eight Lakh Ninety-Five Thousand only), 85% of admissible IPS of Rs. 151.71 lakh (Rupees One Crore Fifty-One Lakh Seventy-One Thousand only) for the period from 01.04.2024 to 31,.03.2025.

However, the actual disbursement shall be considered only on the receipt of funds from the Government, and subject to confirmation to the terms and conditions of the eligibility certificate and agreements executed thereunder, as well as upon submission of prescribed documents.

Shares of REXNORD ELECTRONICS & CONTROLS LTD. was last trading in BSE at Rs. 58.99 as compared to the previous close of Rs. 59.20. The total number of shares traded during the day was 1590 in over 15 trades.

The stock hit an intraday high of Rs. 58.99 and intraday low of 55.70. The net turnover during the day was Rs. 91992.00.

Source : Equity Bulls

Keywords

REXNORDELECTRONICSandCONTROLS INE687C01012 IndustrialMachinery IndustrialPromotionSubsidy