IFCI approves Lumax Auto Tech application for PLI-AUTO

25 Mar 2022 , 11:14 AM

IFCI Limited has approved Lumax Auto Technologies Limited’s application filed under the Production Linked Incentive (PLI) scheme for automobile and auto component industry (PLI-AUTO).

“The application under Component Champion Incentive Scheme of the Production linked Incentive (PLI) scheme for Automobile and Auto Component Industry (PU-AUTO) has been approved by IFCI Limited, a Government of India Undertaking, subject to such terms and conditions as set out in the Approval Letter received from IFCI Limited,” company said in a filing on Thursday.

At around 11.16 am, Lumax Auto Technologies Ltd was trading at Rs179.35 per share down by Rs0.15 or 0.08% from its previous closing of Rs179.50 per share on the BSE.