Divyashakti Ltd updates on quartx exports to USA

Divyashakti Ltd had earlier announced about the preliminary results of its first administrative review of quartz surfaces anti-dumping duty order ("ADD Order"), by the US Department of Commerce ("Commerce"). The Commerce has announced the anti-dumping duty to be 161.56% effective from November, 2022 and the said date for levy be effective from December, 2022.

Further, the Commerce has analysed the case and rebuttal briefs submitted by the interested parties (Divyashakti Limited & others) for the period of review (POR) December 13, 2019 through May 31, 2021 and has finally determined that Divyashakti Limited (Formerly known as Divyashakti Granites Limited will be subject to an anti-dumping duty of 3.19%.

As per the above final order, the Company is optimistic and will start exporting the quartz as before.

Shares of DIVYASHAKTI LTD. was last trading in BSE at Rs. 87.75 as compared to the previous close of Rs. 82.00. The total number of shares traded during the day was 6507 in over 65 trades.

The stock hit an intraday high of Rs. 89.75 and intraday low of 83.00. The net turnover during the day was Rs. 566882.00.

Source : Equity Bulls

Keywords

DIVYASHAKTIGRANITES INE410G01010 ADD Quartz USA Update