Indosolar, a manufacturer of solar photovoltaic cells, announced that the Delhi High Court has ruled in favour of Indosolar and confirmed the entitlement of subsidy under Special Incentive Scheme to Indosolar.

Moreover, the Commissioner Central Excise Noida II has passed order in favour of Indosolar against Show Cause Notice for payment of Custom Duty of Rs 943 million along with interest and penalties.

Shares of the company gained Rs 1.13, or 7.6%, to trade at Rs 15.99. The total volume of shares traded was 719,714 at the BSE (12.16 p.m., Monday).