Symphony, the world's largest air cooler company, announced that the company has decided to set up an additional unit at Special Economic Zone (SEZ), Kandla, Gujarat. In this connection, the company is applying to Kandla Specialized Economic Zone.
''This additional SEZ unit will help the company in better logistics and will also provide several direct and indirect tax benefits including 100% exemption under the Income Tax Act, 1961 on export profits,'' the company said.
Shares of the company declined Rs 11, or 0.79%, to trade at Rs 1,380. The total volume of shares traded was 1,536 at the BSE (11.32 a.m., Thursday).