Voltas, Blue Star, Havells, Hitachi: AC stocks rise as govt reopens PLI scheme for white goods

Shares of air-conditioner and consumer durable makers such as Voltas, Blue Star, Havells, and Hitachi traded higher on Monday after the government reopened the production-linked incentive (PLI) scheme for white goods. The move is expected to boost domestic manufacturing and strengthen the supply chain for components such as compressors, motors, and other key parts used in ACs and appliances.

Tracking the development, Voltas shares climbed 0.45% to ₹1,410 apiece on the National Stock Exchange (NSE). Among others, shares of Blue Star , Havells India (Lloyd) , and Amber Enterprises rose up to 1%, while PG Electroplast and Symphony shares fell nearly 1%.

Shares of AC component manufacturers Epack Durable, KRN Heat Exchanger, and Refrigeration were also up nearly 1%.

Meanwhile, equity benchmark indices BSE Sensex and NSE Nifty traded flat with a negative bias, tracking mixed cues from global peers.

The Ministry of Commerce & Industry on Sunday said that the government has reopened the application window for the PLI scheme for white goods, including air conditioners (ACs) and LED lights, for 30 days—from September 15 to October 14, 2025.

The decision was taken in response to the industry’s strong appetite for additional investments under the scheme, driven by growing market demand and increased confidence in domestic manufacturing of key AC and LED components, the ministry said in a notification.

As per the release, the scheme will remain open on the same online portal (pliwg.dpiit.gov.in) and under the same terms and conditions as notified in April 2021, along with subsequent amendments. No applications will be accepted after October 14, the release said.

So far, 83 applicants have been approved as beneficiaries under the scheme, with committed investments of ₹10,406 crore.

The PLI scheme for white goods was approved by the Union Cabinet in April 2021 under the government’s Atmanirbhar Bharat initiative. The objective of the scheme is to boost domestic production of components and sub-assemblies for ACs and LED lighting. With a total outlay of ₹6,238 crore, the scheme is proposed to be implemented over seven years from FY22 to FY29, aiming to strengthen local manufacturing, reduce imports, and generate employment opportunities.

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