India's Piramal Pharma up on anti-dumping probe on Vitamin A-Palmitate imports

Piramal Pharma (Mumbai)

02/01/2023 05:42

** Shares of Piramal Pharma  PIRM.NS  rise over 6%, biggest
intraday gain in a month to 121.85 rupees  
    ** The uptick comes after the government initiated
anti-dumping investigation on imports of Vitamin A-Palmitate,
originating in or exported from China, European Union and
Switzerland
    ** Piramal Pharma is the sole producer of Vitamin
A-Palmitate in India, which is used to maintain eye health and
treat skin discorders
    ** Investigation was sought by Piramal Pharma, seeking
action against price undercutting and price suppression
    ** About 22,48,727 shares change hands, as of 11:00 a.m,
0.9x the 30-day avg of 26,12,208
($1 = 82.5750 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))