India's Kanoria Chemicals jumps on anti-dumping duty on imports of key chemical

Kanoria Chemicals and Industries

26/02/2024 06:55

** Shares of Kanoria Chemicals and Industries  KNRC.NS 
climb 7.34% to 133.80 rupees
    ** Chemical intermediates manufacturer's stock set to snap
four-day losing streak
    ** Rise after government imposes anti-dumping duty on
pentaerythritol imports from China, Saudi Arabia and Taiwan
    ** Pentaerythritol is a chemical used in paints, dyes,
lubricants and resins
    ** KNRC had filed the anti-dumping investigation
application, alleging injury to domestic manufacturers of the
chemical from Chinese, Taiwanese and Saudi Arabian imports
    ** KNRC is top producer of the chemical in India  
    ** Including today's gains, KNRC trims losses to 0.8% so far
this year - LSEG data
      
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))