Anti Dumping Duty on TDI: There is good news for Gujarat Narmada Valley Fertilizers and Chemicals (GNFC). The government has imposed anti-dumping duty on TDI imports from China, Japan, Korea. Duty has been imposed on the increased rates for the next 5 years. The Finance Ministry has approved the imposition of anti-dumping duty and its notification has also been issued. After this decision of the government, there was a great rise in the stock of GNFC. The stock rose 4% to Rs 710 on the BSE.
What is the matter?
DGTR reviewed and recommended on the application of GNFC. GNVC is the sole producer of this chemical. The current duty was expiring on September 27.
Where would TDI be used?
Let us tell you that TDI is used in making furniture foam, industrial gasket, sports and industrial safety pad, automobile seat, frozen food, medicine and CD.
#GNFC good news for
Anti-dumping duty on TDI imports from China, Japan, Korea
Duty for next 5 years at increased rates
Finance Ministry approved, issued notification @pandeyambarish
— Zee Business (@ZeeBusiness) September 22, 2022
What should investors do?
Experts said, investors in GNFC should have a long-term view. In the coming days, the level of Rs 730-750 can be seen in the coming days. Bottom support will be of Rs 675-680. It has advice to hold and buy.