KRN Heat Exchanger and Refrigeration Ltd witnessed a sharp rise in its stock price, climbing 5.43% to ₹794.40 during the day. The surge comes after the Ministry of Commerce & Industry revealed the selection of 24 companies under the third round of the Production Linked Incentive (PLI) scheme for white goods, including air conditioners (ACs) and LED lights.
PLI Scheme Details:
The government’s PLI scheme for white goods aims to boost domestic manufacturing, reduce imports, and increase exports in key sectors such as air conditioning and LED lighting. The initiative has garnered committed investments of ₹3,516 crore from the selected companies in its third round.
- KRN Heat Exchanger and Refrigeration Ltd has committed an investment of ₹140 crore under the scheme, reflecting its ambition to expand its production capabilities and enhance competitiveness in the market.
- Other Participants:
- Ram Ratna Wire: Committed an investment of ₹250 crore.
- Voltas: Committed an investment of ₹250 crore.
Major Highlights:
- Total Committed Investment:
- ₹3,516 crore from 24 selected companies.
- 18 new beneficiaries committed ₹2,299 crore.
- 6 existing beneficiaries pledged an additional ₹1,217 crore.
- Top Investors:
- Ram Ratna Wires Ltd: ₹253 crore.
- KRN HVAC Products Pvt Ltd: ₹141.72 crore.
- Voltas Components Pvt Ltd: ₹256.73 crore.
- Production Impact:
- Expected to generate investments worth ₹10,478 crore across all rounds of the PLI scheme for White Goods.
- Estimated to result in a production output worth ₹1.72 lakh crore during the scheme’s duration.
Market Performance:
- Previous Close: ₹753.45
- Current Price: ₹794.40 (+5.43%)
- Day Range: ₹749.80 – ₹800.00
- Year Range: ₹402.10 – ₹879.95
- Market Cap: ₹48.17 billion
TOPICS:
KRN Heat Exchanger