1st on Zee Business: Government bans import of cheap AC to domestic business; AC stocks GAIN - What shareholders should know

First on Zee Business: The government has issued a BIS (Bureau of Indian Standards) norms to put a hold on the import of cheap air conditions, Zee Business journalist Chetan Bhutani reveals while referring to an official notification during a conversation with Managing Editor Anil Singhvi. 

According to Bhutani, the center has issued a BIS notification till June 17, 2022, to ban the cheap imports on air-conditioners to increase the domestic business, He adds, the government periodically comes out such notifications with an aim to give relief to Indian manufacturers.

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Cheap air conditions such as Split AC, Ducted AC, Packaged AC, and Unitary AC are put under abn list for approximately next one year, Bhutani mentions while pointing out the notification. 

This news is beneficial for the companies like Voltas and Amber Enterprises, as their business may likely spur amid a ban on cheap AC imports. 

#BreakingNews | वोल्टास और अंबर एंटरप्राइजेज के लिए बड़ी खबर

AC के सस्ते इंपोर्ट को रोकने के लिए सरकार का बड़ा कदम, BIS नियम 17 जून 2022 तक लगाए... नोटिफिकेशन जारी#Voltas #AmberEnterprises @AnilSinghvi_ @BhutaniChetan pic.twitter.com/lQPaILm1Kh

— Zee Business (@ZeeBusiness) June 25, 2021

Voltas shares rose to one and a half per cent to Rs 1037.3 per share, while Amber Enterprises gained around two per cent to 3031 apiece on the BSE intraday trade on Friday. At around 11:50 am, the Voltas is trading around one per cent and Amber declined by two per cent, near day’s low. 

Besides cheap AC imports, the government has also banned cheap pipe imports giving a boost to the pipe manufacturing companies that are majorly used in the agriculture sector. The center has issued a BIS notification to curb 11 cheap pipes import till September 30, 2021.