Jindal Stainless gallops 11.7% after duty on stainless steel imports

India Infoline News Service | Mumbai | December 14, 2015 16:11 IST

The anti-dumping duty in the range of 5.3-57.4% has been levied on imports of cold rolled flat products of stainless steel.

Jindal Stainless
Jindal Stainless jumped 11.7% to Rs.30.10 on BSE. On Friday, the government imposed anti-dumping duty on stainless steel imports, in a bid to protect the struggling domestic industry from cheap imports. The anti-dumping duty in the range of 5.3-57.4% has been levied on imports of cold rolled flat products of stainless steel.

The scrip opened at Rs. 28.5 and touched a high and low of Rs. 31.9 and Rs. 28.05 respectively. A total of 3135153(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 623.04 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 61.4 on 17-Nov-2015 and a 52 week low of Rs. 21.15 on 27-Nov-2015. Last one week high and low of the scrip stood at Rs. 33.5 and Rs. 25.15 respectively.

The promoters holding in the company stood at 49.56 % while Institutions and Non-Institutions held 24.02 % and 18.8 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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