te Siemens, Bosch, Minda Industries shares to gain as Govt implements BIS norms on imports of CHEAPER vehicle parts | Zee Business

Siemens, Bosch, Minda Industries shares to gain as Govt implements BIS norms on imports of CHEAPER vehicle parts

BIG! The government has implemented BIS norms for vehicle parts which is another move towards standardization of the sector. Zee Business’ Chetan Bhutani has this exclusive report. Bhutani tells that the move has been taken to reduce cheap imports of important spare parts of Electric Vehicles

Siemens, Bosch, Minda Industries shares to gain as Govt implements BIS norms on imports of CHEAPER vehicle parts
The BIS norms will be applicable to plugs, socket outlets and vehicle connectors. The BIS norms have been implemented from 31 August 2021

BIG! The government has implemented BIS norms for vehicle parts which is another move towards standardization of the sector. Zee Business’ Chetan Bhutani has this exclusive report. Bhutani tells that the move has been taken to reduce cheap imports of important spare parts of Electric Vehicles.

The BIS norms will be applicable to plugs, socket outlets and vehicle connectors. The BIS norms have been implemented from 31 August 2021.

It will also be applicable on Alternate Current charge point and light electric vehicle, Bhutani said.

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The BIS norms have been introduced to help the domestic companies. This move is expected to reduce cheaper imports into India.

The auto industry across the world is currently facing an acute shortage of semi conductors. To safeguard the interest of domestic manufacturers, the government has implemented these norms, he further said.

This is expected to benefit companies like Siemens, Bosch and Minda Industries.

Siemens share price – The stocks of Siemens Limited were trading at Rs 2271 on the NSE on Wednesday around 1 pm, almost flat from the last closing price on Tuesday.

Bosch share price – The stocks of Bosch Limited were trading at Rs 13,968.60 on the NSE on Wednesday around 1 pm, up by almost 0.79 per cent from the last closing price on Tuesday.

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Minda Industries share price – The stocks of Minda Industries Limited were trading at Rs 705.85 on the NSE on Wednesday around 1 pm, up by almost 1 per cent from the last closing price on Tuesday.  

Written By: ZeeBiz WebTeam
Edited By: ZeeBiz WebTeam
Updated: Wed, Sep 01, 2021
01:34 pm
New Delhi, ZeeBiz WebDesk
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