Why India Pesticides shares surge 9% today? Details here
India Pesticides shares surged 9% in early trade on Friday after the government imposed an anti-dumping duty on the import of Pretilachlor and PEDA from China. The move follows an investigation by the Directorate General of Trade Remedies (DGTR), which found that such imports were causing material injury to domestic manufacturers due to unfair pricing.
Pretilachlor, a herbicide primarily used in rice and paddy cultivation, was among the key chemicals targeted by the anti-dumping measures. The duty is intended to create a level playing field for local producers by curbing underpriced imports.
The government also extended anti-dumping duties on aluminium foil (5.5 to 80 microns) imported from China and imposed duties on Acetonitrile imports from China, Taiwan, and Russia. Acetonitrile is used in both pharmaceutical and agrochemical industries.
India Pesticides shares opened at ₹192.79 and, at the time of writing, hit an intraday high of ₹213.90. The stock touched a low of ₹190.74 during the session. Currently, the 52-week high stands at ₹247.49, while the 52-week low is ₹119.79. As of 10:06 AM, the shares were trading at 8.53% higher at Rs 209.37.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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