Source – https://economictimes.indiatimes.com/markets/stocks/news/two-multibagger-railways-stocks-jump-up-to-5-as-govt-plans-pli-scheme-for-train-parts/articleshow/102760788.cms?from=mdr
Publisher – The Economic Times
Jupiter Wagons shares hit the 5% upper circuit and a 52-week high of Rs 271.4 in Wednesday’s trade as the government is planning to introduce a production-linked incentive (PLI) scheme for train component makers as part of its efforts to attract foreign manufacturing firms and reduce dependence on imports, people aware of the matter said.
Meanwhile, another train part maker Titagarh Rail Systems rose nearly 3% to Rs 675 in today’s trade.
The contours of the PLI scheme will be worked out with the help of a consultancy firm, which will be selected through a bidding process this month, officials told ET.
The consultant will prepare a list of components that are largely imported and used in making engines and coaches, also called rolling stock.
Under the PLI programme, the government offers output-linked incentives for products that are usually imported.
