India's HFCL, Sterlite up on likely anti-dumping duty on optic fibre cable imports

Sterlite Technologies

03/07/2023 06:39

** Shares of HFCL  HFCL.NS  and Sterlite Technologies
 STTE.NS  rise as much as 6.47% and 5.81%, respectively
    ** Rise comes after directorate general of trade remedies
(DGTR) recommends imposing anti-dumping duty on optic fibre
cables from China, South Korea and Indonesia
    ** Final decision to be taken by Finance Ministry, according
to a Times of India report
    ** Optic fibre cables imported from the three countries sold
at low rates, hurting domestic producers, according to DGTR
    ** HFCL and STTE, engaged in producing optic fibre cables,
likely to gain 
    ** Reuters is awaiting response from HFCL and STTE on
queries regarding the magnitude of potential gains

 

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