Announced Tue, 18 Aug · 20:32 IST
Subsidiary Quantum Magnetics gets ECMS approval for Neodymium magnets
PERMAGN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+9.0%1-day move
₹810.95
prior close
₹821.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+8.6+11.3+9.5+11.1+9.0+7.0————————
Up moveDown movePending
AI summary
Permanent Magnets Ltd's wholly owned subsidiary Quantum Magnetics Pvt Ltd has received approval under the Government of India's Electronics Component Manufacturing Scheme (ECMS) for manufacturing Neodymium rare earth permanent magnets (NdFeB). The approval supports building a domestic manufacturing ecosystem for these critical components used in electronics, EVs, and clean energy.
Likely market impact
Positive for long-term growth of the subsidiary; may unlock ECMS incentives and strengthen domestic rare earth magnet manufacturing capacity.