Make in India: Samsung, Foxconn, Lava likely to apply for PLI scheme

Published On: Thursday, June 4, 2020 | By: Team KnowMyStock

About seven global and Indian companies are expected to seek benefits under the Centre’s production-linked incentive (PLI) scheme, aimed at making India a global hub for mobile device exports. Under the scheme, which was formally announced on Tuesday, prospective companies have to apply by July 31. The government will offer the scheme to five global and domestic entities. However, if there are more than five applications, eligibility will be decided by the ranking of companies based on their global consolidated revenues in the base year. According to sources, global players that are likely to apply for the scheme include Foxconn, Wistron (both of which manufacture mobile devices for Apple), South Korean major Samsung, and US’s electronic manufacturing services giant Flextronics. Lava International and Micromax are among the home-grown players.

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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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