Sona Comstar, an auto component maker, received the first certification under India's auto PLI scheme, resulting in a 6% share price rise.
Sona Comstar, an auto component maker, became the first to receive certification under India's auto PLI scheme, leading to a 6% share price rise. The company applied for seven products under the scheme, and its first certification is for an electric two-wheeler hub wheel drive motor. The auto PLI scheme, with a Rs 259 billion budget over five years, aims to boost domestic production of high-value advanced automotive technology products.
February 23, 2024
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