Tyre stocks slip despite imposition of anti-dumping duty

India Infoline News Service | Mumbai | August 04, 2017 10:43 IST

Tyre stocks witnessed a slip in Friday’s intra-day trade despite talks between DGAD and the Finance Ministry .

MRF Tyres
Tyre stocks witnessed a slip in Friday’s intra-day trade despite talks between DGAD and the Finance Ministry for levying anti-dumping duty on cheap imports.

Tyre stocks namely Apollo tyres traded lower by 2.10% at Rs 265.20 per share, JK Tyre Industries traded lower by 1.50% at Rs 161.30 per share, Ceat Ltd traded lower by 6.44% at Rs 1,779.75 per share and MRF traded lower by 1.41% at Rs 68,200 per share.

The Directorate General of Anti-Dumping and Allied Duties (DGAD) is in talks with the Finance Ministry for the imposition of anti-dumping duty on truck and bus radial tyres (TBR) imports from China.

The authority has submitted a report to the Finance Ministry which will take the final decision.

At 10:10 hours, BSE Auto Index traded lower by 0.01% at 24,618 levels. Mahindra and Mahindra was contributing major to index losses an d dragging it further to lower levels. 

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