Sandhar Tech applies under PLI scheme for automobile and auto components; Stock ends over 1% up

13 Jan 2022 , 04:22 PM

Sandhar Technologies has applied under the Production Linked Incentive (PLI) Scheme for Automobile and Auto components of the Ministry of Heavy Industries, Government of India.

The move will enable the company to manufacture and undertake Advanced Automotive Technology products for new age Electric Vehicles and provide more efficient and green automotive manufacturing and increase employment opportunities in the automotive manufacturing chain.

“Electric Vehicles shall help in reducing the carbon emissions leading to greener and eco-friendly Planet,” the company added.

On Sensex, Sandhar closed at Rs259 per piece up by 1.2%. The stock has touched an intraday high of Rs269.05 per piece.