The authority has concluded that TBR has been exported to India from China below market prices causing material injury to the domestic industry.
The authority has called for an imposition of anti-dumping duty on an exporter-specific basis ranging from USD 245.35 to USD 452.33 per tonne.
Meanwhile, tyre stocks namely Apollo Tyres slipped 1.37% at Rs 273.50 per share, JK Tyre Industries slipped 1.92% at Rs 166.05 per share, Ceat slipped 0.57% at Rs 1,915.15 per share and Balkrishna Industries slipped 1.15% at Rs 1,600.00 per share.
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.
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