This SME stock zoomed 8.5 per cent on receiving approval for telecom PLI Scheme
The PLI Scheme is aimed at making India a global manufacturing hub for telecom and networking products and is also expected to boost export of telecom and networking products under “Make in India” initiative
Frog Cellsat has informed the exchange that it has received an approval from Small Industries Development Bank of India (SIDBI), and Competent Authority appointed under the Production Linked Incentive (PLI) Scheme for availing an incentive of up to Rs 66.24 crores under Design Led PLI Scheme. The incentive will apply on products designed and manufactured in India by the company and will be spread over five years period, starting financial year 2022-23 to FY 2026-27.
The PLI Scheme is aimed at making India a global manufacturing hub for telecom and networking products and is also expected to boost export of telecom and networking products under “Make in India” initiative.
Frog Cellsat is one of the most experienced and focused telecommunication equipment suppliers.
The company is providing its products and services across Asia, Europe, Africa and the Middle East. Their main products are 2G/3G/4G multi-band digital RF repeater, multi-band frequency shift repeater, multi-band optical DAS system, relative software and accessories. The company has two production units in Noida and Dehradun.
On Tuesday, shares of Frog Cellsat soared ~8.65 per cent to record a fresh 52-week high of Rs 279.85 per share.
Keep a close eye on this SME stock for more action in the coming trading sessions.