Innoventive Industries gets Rs 16 cr subsidy; stock off lows
Innoventive Industries, manufacturer of precision components using innovative technology, has received Industrial Promotion Subsidy of Rs 16.38 crores from the Government of Maharashtra.
By ET Bureau |
MUMBAI: Innoventive Industries, manufacturer of precision components using innovative technology, has received Industrial Promotion Subsidy of Rs 16.38 crores from the Government of Maharashtra.
The company’s main facility at Pimple Jagtap in Pune had been awarded a Mega Project status by the state government under Package Scheme of Incentives in 2007. This entitles the company for some monetary benefits which include IPS in the form of VAT refunds equivalent to 75 per cent of the eligible investment made in the plant with effect from March 28, 2007.
The stock was at Rs 84.80, down 1.68 per cent on the BSE. It touched a high of Rs 86 and low of Rs 81.50 in trade so far.
The company’s main facility at Pimple Jagtap in Pune had been awarded a Mega Project status by the state government under Package Scheme of Incentives in 2007. This entitles the company for some monetary benefits which include IPS in the form of VAT refunds equivalent to 75 per cent of the eligible investment made in the plant with effect from March 28, 2007.
The stock was at Rs 84.80, down 1.68 per cent on the BSE. It touched a high of Rs 86 and low of Rs 81.50 in trade so far.
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