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Here's why KRN Heat Exchanger shares are buzzing in trade on May 15
KRN Heat Exchanger's wholly owned subsidiary has been granted the incentive of ₹141.72 crore from the Performance Linked Incentive (PLI) Scheme for white goods.
SI Reporter New Delhi
KRN Heat Exchanger share price today, Thursday, May 15, 2025: Shares of KRN Heat Exchanger and Refrigeration were ruling higher on the bourses on Thursday, May 15, 2025. The company's share price zoomed 3.50 per cent to ₹820 per share on the National Stock Exchange (NSE) during the intra-day trade on Thursday.
The northward movement in the company's share price is attributed to the company's announcement that its wholly owned subsidiary has been granted the incentive of ₹141.72 crore from the Performance Linked Incentive (PLI) Scheme for white goods. The PLI Scheme is aimed at making India a global manufacturing hub for white goods (Air Conditioners and LEDs) products under the "Make in India" initiative.
"The company's wholly owned subsidiary, namely KRN HVAC Products Private Limited, had made an application with
IFCI Limited (a Government of India undertaking) and received an approval of incentives amounting to ₹141.72 crore," said KRN Heat Exchanger in an exchange filing on the NSE.
About KRN Heat Exchanger
KRN Heat Exchanger and Refrigeration Limited (KRN) specialises in manufacturing fin and tube-type heat exchangers for the heat, ventilation, air conditioning, and refrigeration (HVAC&R) industry. Their products are primarily made from non-ferrous metals such as copper and aluminium. KRN customises heat exchangers in various shapes and sizes to meet customer requirements and market demand, with diameters ranging from 5 mm to 15.8 mm. The product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts for various cooling applications.
As of May 15, the company enjoys a market capitalisation of ₹5,070.11 crore on the NSE. ALSO READ | What sparked 11% rally in 3i Infotech share price on May 15? Find out here
KRN Heat Exchanger share price history
Shares of KRN Heat Exchanger made their D-Street debut on October 03, 2024, by listing at ₹470 per share on the BSE, and ₹480 per share on the NSE against the IPO issue price of ₹220 per share.
The company's shares are currently nearly 70 per cent higher from their listing price on the NSE, and 272 per cent higher than its issue price.
For the year-till-date, KRN Heat Exchanger shares have posted an advancement of 5.5 per cent.
At 1:15 PM on Thursday, KRN Heat Exchanger shares were quoted trading at around ₹815.70 per share, up 2.297 per cent from its previous close of ₹792.20 per share on the NSE.
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