Bansal Wire Industries shares jumped more than 2% in early trade after the company received a Letter of Comfort from the Uttar Pradesh government for its new wire manufacturing unit in Dadri.
The firm had applied for incentives under Uttar Pradesh’s Industrial Investment and Employment Promotion Policy-2022. It sought a capital subsidy for its investment of Rs 410.52 crore. The government has given the green light on the application and the company will be eligible for an 18% capital subsidy on eligible capital investments, subject to annual ceilings.
As of 9:47 am, Bansal Wire Industries shares were trading 2.08% higher at Rs 436.15 on the NSE.