Manufacturers such as Ola Electric, Reliance New Energy Solar, and Rajesh Exports have already secured PLI support for 40 GWh capacity.
Rajesh Exports has faced consecutive quarters of weak financial results, with revenues declining by 31% YoY in Q3FY24.
All sectors ended in the red on June 13 as equity benchmarks closed 2.6 percent lower amid a global selloff
Shares of jewellery exporter Rajesh Exports surged 5 percent to Rs 549.20 on the BSE on June 13, in an otherwise weak market, a day after its subsidiary Elest announced it will be setting up the country's first display fab facility in Telangana with investments worth Rs 24,000 crore.
The Generation 6 AMOLED display fab facility will manufacture next-generation displays for smartphones, tablet computers, and laptops.