Aarti Drugs shares soared nearly 4 per cent in a subdued market after the company’s subsidiary received approval under Production Linked Incentive (PLI) scheme for the pharmaceutical sector. The shares of Aarti Drugs ended the trading session at Rs 691.90, higher by 3.94 per cent, on the BSE.
“Aarti Speciality Chemicals (ASCL), a wholly-owned subsidiary of Aarti Drugs, stands out to be one of the beneficiaries of the Government of India’s recently approved Production Linked Incentive (PLI) for the pharmaceutical sector,” the company said in a regulatory filing to the stock exchanges.
The government recently launched a Production-Linked Incentive (PLI) Scheme to promote domestic manufacturing by incentivising pharmaceutical manufacturers to set up greenfield projects in India, with a minimum domestic value addition in four different target segments.
The BSE Sensex ended the day at 50,541.07, higher by 35.75 points and the Nifty shut at 14,956.20, up 18 points.