Graphite India rides on EU duty cut

DALAL STREET SPIKES

Shares in Graphite India ended 2.74 per cent higher at Rs 91.85 after the company announced that the European Union has reduced provisional anti-dumping duty on its products.

The stock touched a high of Rs 96 and a low of Rs 89.95 in intraday trades. Volumes were thin, with just 6,882 shares being traded on the BSE.

The company informed that the provisional 20.3 per cent duty towards anti-dumping / anti-subsidy imposed by the European Commission on supplies of graphite electrodes of Indian origin by Graphite India to the European Union has now been reduced to 16.7 per cent, following the company's appeal.