News Stocks Venus Remedies Receives ₹11.77 Crore Under PLI Scheme Following Earlier ₹10 Crore DisbursementVenus Remedies Receives ₹11.77 Crore Under PLI Scheme Following Earlier ₹10 Crore Disbursement
Venus Remedies has received ₹11.77 crore under the PLI scheme, adding to a previous ₹10 crore disbursement for a total of ₹21.77 crore. The funding supports the company's pharmaceutical manufacturing operations and aligns with government initiatives to strengthen domestic healthcare manufacturing capabilities.
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Venus Remedies has received ₹11.77 crore under the Production Linked Incentive (PLI) scheme, marking another significant milestone in the company's participation in this government initiative. This disbursement follows a previous ₹10 crore funding received under the same scheme.
PLI Scheme Disbursements
The pharmaceutical company has now benefited from two substantial disbursements under the PLI scheme, demonstrating its successful compliance with the program requirements.
| Disbursement: | Amount |
|---|---|
| Previous Disbursement: | ₹10.00 crore |
| Current Disbursement: | ₹11.77 crore |
| Total Received: | ₹21.77 crore |
Production Linked Incentive Scheme Impact
The PLI scheme for pharmaceuticals is designed to enhance domestic manufacturing capabilities and reduce import dependence in the healthcare sector. Venus Remedies' participation in this initiative reflects its alignment with the government's vision of strengthening India's pharmaceutical manufacturing ecosystem.
The scheme provides financial incentives to companies that achieve specific production and investment targets, encouraging them to expand their manufacturing operations and improve their competitive positioning in both domestic and international markets.
Strategic Significance
The receipt of PLI scheme funding underscores Venus Remedies' commitment to scaling its pharmaceutical manufacturing operations. These disbursements provide the company with additional financial resources to support its production activities and potentially expand its manufacturing capabilities in line with scheme objectives.
The cumulative funding of ₹21.77 crore from both disbursements represents a substantial financial boost for the company's operations and growth initiatives within the pharmaceutical sector.
Historical Stock Returns for Venus Remedies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.92% | -1.79% | -8.31% | +43.83% | +154.39% | +363.11% |
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