/ Ways2Capital : Manali Petrochemicals Soars High By 12% Anti-Dumping Duty Of Up To USD 135.40 ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 28 February 2017

The bourses are in a bearish mode. BSE Sensex and Nifty are trading weak by 0.09% & 0.18% respectively.Whereas, the BSE Small-cap index is trading up by 53.44 points or 0.39% at 13662.84 levels.Manali Petrochemicals is currently trading up by 12.4% in the BSE Small-cap index as government is likely to levy anti dumping duties of upto USD 135.40 per tonne on imports of a chemical used in foam making, coming from Thailand.

This is done in order to protect the domestic players from cheap imports of ‘Flexible Slabstock Polyol’. On behalf of domestic industry, Manali Petrochemicals had filed the application for investigation. Due to below cost imports the domestic industry has suffered material injury.

Manali Petrochemicals Ltd is currently trading at Rs 41.7, up by Rs 6.15 or 17.3% from its previous closing of Rs 35.55 on the BSE.The scrip opened at Rs 37 and has touched a high and low of Rs 42 and Rs 37 respectively. So far 11602139(NSE+BSE) shares were traded on the counter.The current market cap of the company is Rs 611.46 crore.
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