OTHER GROUP COMPANIES
market

Prataap Snacks receives approval under PLI scheme for food processing industry; Stock nears record high

The approval under the PLI scheme is for Category - I, Segment - Ready to Cook/Ready to Eat (RTC/RTE).

December 07, 2021 2:51 IST | India Infoline News Service
Prataap Snacks has received approval under the Production Linked Incentive (PL) Scheme of the Government of India for Food Processing Industry.

The approval under the PLI scheme is for Category - I, Segment - Ready to Cook/Ready to Eat (RTC/RTE).

Also, the approval is for a sales-based incentive. The incentive would be payable on incremental sales of eligible products over the base year sales as defined in the PLI Scheme.

The company announced that 7.50% would be the rate of incentive for eligible products from FY22 to FY24. The rate will reduce to 6.75% in FY25 and 6% in FY26. The incentive is subject to terms and conditions as approved by the Competent Authority from time to time.

PLI Scheme aimed to incentivise manufacturing of four major food product segments viz. Ready to Cook/Ready to Eat (RTC/RTE) including millet-based foods, Processed Fruits & Vegetables, Marine Products & Mozzarella Cheese in India.

At around 2.49 pm, Prataap Snacks was trading at Rs796.85 per piece up by Rs5.90 or 0,75%. The stock had touched an intraday high of Rs847.70 per piece on Sensex that was near the 52-week high of Rs850 per piece. 

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity