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Blue Star to invest in new manufacturing facilities; targets to grow by 25% in FY22

Blue Star to invest in new manufacturing facilities; targets to grow by 25% in FY22 March 17, 2021 B Thiagarajan, MD, Blue Star   -  Businessline× AC major Blue Star will invest ₹250 crore in a manufacturing plant in Sri City, Andhra Pradesh, which will have a production capacity of 5 lakh room air-conditioning units per annum. It will also invest ₹150 crore in a new manufacturing plant in Wada, Maharashtra, for deep freezers, a top company official said on Wednesday. In the second phase, which will be in the next 3-4 years, another investment of ₹270 crore will be made in the Sri City plant, for an annual production capacity of 7 lakh room ACs. The construction of the plant will begin in FY22.

Indian TV makers await PLI scheme, say important for global competition

Indian TV makers await PLI scheme, say important for global competition The government of India has already been taking steps to encourage television manufacturing in India. In July last year, the cabinet imposed restrictions by changing the import policy for colour televisions from free to restricted Nidhi Singal | March 17, 2021 | Updated 16:02 IST Industry asks for PLI scheme for TVs With the rising input cost of manufacturing televisions in India, the industry is awaiting a Production Linked Incentive scheme for TVs as well. Currently, the government has already announced PLI for mobile phones, IT hardware (including tablets) and white goods. However, white goods only include air conditioners and LED lights.

Aarti Drugs gains 6% as board to consider buyback on March 19

Shares of Aarti Drugs were up 6 per cent at Rs 708 on the BSE in intra-day trade on Tuesday after the pharmaceutical company said its board will consider share buyback on Friday, March 19. “A meeting of the board of directors of the company is scheduled to be held on Friday, March 19, 2021, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the Company including matters related/incidental thereto,” Aarti Drug said in an exchange filing. The buyback is a corporate action in which a company buys back its shares from the existing shareholders usually at a price higher than the market price. When it buys back, the number of shares outstanding in the market reduces.

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