PITTIENG Daily: Looks good for more upside above 118 [ATH]
1) Trendline Breakout
2) Volume Buildup
3) Largest exporter of laminations from India
In news: Company has received an approval for Rs. 21.66 crore incentives, out of which Rs. 16.25 crore has been sanctioned for the period from 1st April, 2018 to 31st March, 2020. The remaining amount of Rs. 138.34 crore would be received in due course are per agreed terms and conditions between the government and company.
The incentives received by the company add directly to Profit before Tax and will increase profitability of the company. This would also increase the cash flow availability for the company's expansion and working capital purpose, which would in turn contribute for overall growth of the company.