The company announced that it received an approval under Production Linked Scheme (PLI) from Government of India for specialty steel (tyre bead wire).
The incentive is based on incremental production. The incentive would be payable on incremental production over the base year production as defined in the PLI Scheme. The incentive is subject to terms and conditions as approved by the Government of India from time to time, the company said in a statement.Rajratan Global Wire is engaged in the business of manufacturing and sale of tyre bead wire. The company's consolidated net profit declined 28.5% to Rs 23.31 crore on 6.9% decrease in net sales to Rs 224.56 crore in Q2 FY23 over Q2 FY22.
The scrip declined 3.75% to Rs 806 on the BSE.
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