Maan Aluminium shares surged by 20% to hit the upper circuit following the news of the company being the only Indian aluminium exporter awarded a “zero” rate of anti-dumping duty by the U.S. Department of Commerce. As of 11:00 AM, the shares were trading at ₹171.38 on the NSE, reflecting a gain of ₹205.
Key Highlights of the Announcement
- On September 27, 2024, the U.S. Department of Commerce announced the final determinations in the anti-dumping (AD) and countervailing duty (CVD) investigations concerning aluminium extrusions from several countries, including India.
- Maan Aluminium Limited was awarded a 0% dumping rate, making it the only Indian company to avoid any anti-dumping duty, unlike its counterparts.
- Other Indian exporters, such as Global Aluminium, Aluka Extrusions, Jindal Aluminium, and others, were assigned a dumping rate of 39.05% due to adverse inferences. The “All-Others” rate was set at 19.53%.
Implications for Maan Aluminium
The zero anti-dumping duty means that Maan Aluminium will not face additional tariffs when exporting aluminium extrusions to the U.S., giving it a significant competitive advantage in the American market. This favorable outcome is likely to enhance its export potential and improve its financial performance.
The favorable decision marks a boost for the company and its shareholders, contributing to the stock price surge and positive market sentiment surrounding Maan Aluminium.
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