BIG! Delhi Govt notifies Medical Oxygen Production Promotion Policy 2021; Refex Industries, Linde India shares up 7%, 2% - Know BENEFITS of policy for companies
Among benefits, there is a proposal to give capital subsidy of Rs 20 lakh per metric tn on cost and machinery. There will be a provision of 100 per cent reimbursement of stamp duty within a month of commissioning the manufacturing plant
Big development for Refex Industries and Linde India shares! The two companies are into manufacturing of oxygen. The Government of National Capital Territory of Delhi has notified Medical Oxygen Production Promotion Policy 2021. Zee Business Managing Editor Anil Singhvi called this a big news for Refex Industries shares and Linde India stocks.
Linde India stock was also recommended on ‘Traders Diary’.
See Zee Business Live TV Streaming Below:
The Market Guru said that the Delhi Government has notified the Medical Oxygen Production Promotion Policy 2021. The policy will soon be implemented in Delhi, he further said.
Zee Business’ Chetan Bhutani brings this big breaking news for the channel viewers. He said that the Delhi Government has now notified this policy. It had given its approval for the policy a few days back, Bhutani said.
He listed the benefits that the oxygen manufacturing companies will get under the policy. The new policy is likely to make it easier and rewarding for the companies to manufacture medical oxygen.
He said that there is a proposal to give capital subsidy of Rs 20 lakh per metric tn on cost and machinery, Bhutani said.
There will also be a provision of 100 per cent reimbursement of stamp duty within a month of commissioning the manufacturing plant.
He further said that there will be a refund of state Goods and Services Tax (GST) withing one month of setting up a plant and its commissioning.
The companies will also get benefits on input costs like water, electricity and transportation.
He said that the National Capital witnessed acute shortages of medical oxygen during the second wave of covid.
He said that the Delhi Government has taken a big proactive step towards this and given incentives to the companies. This will likely encourage the oxygen manufacturers to come to Delhi and manufacture the medical oxygen, he further said.
Watch Zee Business Tweet Video Below:
Refex shares were up almost 7 per cent on the NSE around 10:12 am and were trading at Rs 133. Meanwhile, Linde India shares were trading 2.2 per cent at Rs 1997.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.