Anti-Dumping duty on La Opala glasses imported from China, UAE may continue – Check how it helps Borosil and La Opala Rg shares; stocks zoom

In apparent positive news for the glass objects manufacturing company, the government is likely to continue anti-dumping duty on Opal glassware imported from United Arab Emirates and China, Zee Business Special Correspondent Chetan Bhutani told Zee Business Managing Editor Anil Singhvi in a report.

Bhutani says a notification has also been released in this regard and the Directorate General of Trade Remedies (DGTR) has begun its probe. He further adds, the government has already imposed duties on the same – 4 per cent on UAE and 30 per cent on China, which will expire on August 8, 2022.

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The domestic players such as Borosil and La Opala RG have demanded the probe so the exiting duties won’t get to expire and it would continue further, says the special correspondent. The period of investigation slated is between April 1, 2020 – March 31, 2021.

La Opala glasses are exclusively used in tables, kitchens, and offices as well as it is also used in indoor decoration.

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बोरोसिल, ला ओपाला RG के लिए बड़ी खबर...

चीन, UAE से आने वाले ओपल ग्लासवेयर पर जारी रह सकती है एंटी डंपिंग ड्यूटी; नोटिफिकेशन हुआ जारी #BorosilLimited #LaOpalaRg #China #UAE @AnilSinghvi_ @BhutaniChetan pic.twitter.com/QFtWVovQLj

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Bhutani also mentions, there will be a probe, and the finance ministry will release a notification regarding the same going ahead.

The shares of Borosil Limited jumped almost 20 per cent to Rs 241.35 per share, while the shares of La Opala RG grew by over 4 per cent to Rs 314.35 per share on the BSE intraday Monday. 

Profit booking was seen in both the stocks as the former trading around 18 per cent higher, whereas the latter declined by over 2 per cent around an hour before market close today.

In the last five sessions, the Borosil stock has been trading at Rs 200 apiece levels, while it has jumped to hit the upper circuit of 20 per cent and then profit booking today. The scrip in the last 6 months has gained over 36 per cent.

Similarly, La Opala RG has been trading between 300-310 per share levels in the last five sessions, while it has surged over 45 per cent in the last six months.