Opal Glassware Makers Surge As Government Extends Anti-Dumping Duty

Indian glass products makers gained after the government extended anti-dumping import duties on opal glassware imported from China and the United Arab Emirates for another five years.

The extension was ordered after the Directorate General of Trade Remedies found significant dumping of opal glassware from China and the U.A.E. despite duties. Borosil Ltd. had requested DGTR for initiation of sunset review on imports of opal glassware from the two countries.

Shares of Borosil, La Opala Rg Ltd., and Hindusthan National Glass & Industries Ltd. rose 5.41%, 4.56%, and 4.89%, respectively, while the benchmark Nifty 50 snapped six-day winning streak.