The National Stock Exchange (NSE) is set to revise the framework for its pre-open market session from Sept 7, bringing the order collection and price discovery process closer to the mechanism used during the Closing Auction Session. While the pre-open session will continue to operate from 9:00 am to 9:15 am, the exchange is changing the manner in which orders can be placed and matched during the 15-minute window. The revised framework is aimed at making the pre-open auction process more structured and strengthening the process of price discovery at the start of the trading day. What Is Changing In NSE Pre-Open Session? Under the revised framework, market and limit orders will be permitted only during the first five minutes of the pre-open session, from 9:00 am to 9:05 am. From 9:05 am to 9:10 am, only limit orders will be allowed. The order matching process and determination of the opening price will then take place between 9:10 am and 9:12 am. This represents a shift from th...
The government has received 32 applications for production-linked incentive (PLI) scheme 2.0 for IT hardware, of which 25 are domestic companies, IT Minister Ashwini Vaishnaw told reporters in Delhi on Wednesday.
The announcement comes days after the government announced restrictions in laptop imports from November.
All of them are driven to gear up manufacturing and bring in supply chains.
Mr Vaishnaw said companies like HP, Dell, Lenovo, Thompson, Acer, and Asus will be manufacturing laptops under the scheme. HP, VVDN, Lenovo will be manufacturing servers.
He said Apple has not applied under the PLI framework, but the company is already manufacturing components.
This move should see a significant reduction in the import of laptops and PCs, Vaishnaw said, adding that "import restrictions are not a worry anymore."
"I spoke to all the applicants, and they didn't raise any concern," he said.
The minister said incremental production expected is around Rs 3.35 lakh crore and the expected direct employment is around 75,000.
"The upcoming Dixon factory in Noida will alone employ 25,000 people," he said.
Manufacturing of laptops will begin by April 2024, officials said, as companies such as Dell are also migrating to PLI scheme.
When asked if India is optimising on big players quitting China with its economy slowing down, Mr Vaishnaw said India is emerging as a trusted value chain partner.
"Many of these companies will use the semiconductors manufactured in India. In fact, they were pleased we are starting with the manufacturing of memory first, which is crucial for laptops. Companies have shared their detailed proposals. We are optimistic more will join," he said.
from NDTV News- Special https://ift.tt/BeA0am6
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