HFCL shares surge over 9% after exemption from European Anti-Dumping Duties

Shares of HFCL surged over 9% to reach a 52-week high of ₹129 on June 18 after the company was exempted from anti-dumping duties imposed by the European Commission on rival Indian Optical Fiber Cable (OFC) manufacturers.

The European Commission stated that HFCL was the only Indian company found not to be engaged in dumping OFC across European markets.

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“After a thorough investigation, the European Commission ruled in June 2024 that anti-dumping duties would not apply to HFCL Group, including HFCL Limited and HTL Limited, as no evidence of dumping was found,” the company said.

As of 12:40 PM, HFCL shares were trading 6.02% higher at ₹125.05 on the NSE.