AIA Engineering Ltd has announced that recently South African Government has imposed 15% customs duty on imports of Grinding Media from all countries except European Union and UK and under FTAs as a part of their internal policy reforms.
Though it is not specific to the Company or Country, as a prudent practice, the company has announced about its likely impact on the Company's business.
The company through its overseas subsidiary, VEGA Steel Industries (RSA) Pty Ltd, has sold approx. 4200 MT of Grinding Media in South Africa during current Financial Year.
Shares of AIA Engineering Ltd. was last trading in BSE at Rs. 2020.05 as compared to the previous close of Rs. 2050.15. The total number of shares traded during the day was 871 in over 274 trades.
The stock hit an intraday high of Rs. 2066.05 and intraday low of 2010. The net turnover during the day was Rs. 1768368.