Government of India to levy duty @ 9.71% on Textured Tempered Coated or Uncoated Glass imports from Malaysia

Pursuant to application made by Gujarat Borosil Limited (Company amalgamated with the Company ie. Borosil Renewables Limited (Formerly Borosil Glass Works Limited), under a Composite Scheme approved by NCLT) to the Directorate General of Trade Remedies, Ministry of Commerce & Industry, Government of India, for imposition of Countervailing Duty on imports from Malaysia of "Textured Tempered Coated or Uncoated Glass"(of which the Company is the sole manufacturer in India), the said Designated Authority has vide their letter dated December 11, 2020 issued Final Findings for imposition of Countervailing duty @ 9.71% of CIF value for a period of 5 years. The duty will be effective after the issuance of final customs notification by Ministry of Finance, Government of India in this regard in due course.

Shares of Borosil Renewables Limited (Formerly Borosil Glass Works Limited) was last trading in BSE at Rs.157.9 as compared to the previous close of Rs. 131.6. The total number of shares traded during the day was 301627 in over 7506 trades.

The stock hit an intraday high of Rs. 157.9 and intraday low of 131.6. The net turnover during the day was Rs. 44533816.

Source : Equity Bulls

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