India's Yasho Industries shines on government probe of chemical imports
BUZZ-India's Yasho Industries shines on government probe of chemical imports ** Shares of specialty chemicals firm Yasho Industries YASO.NS rise as much as 5.79%, last up about 1%
** Indian's Directorate General of Trade Remedies starts an anti-dumping probe into imports of chemical resorcinol from China and Japan
** Resorcinol is an industrial chemical predominantly used in tyres, rubber, adhesives and UV stabilisers
** YASO and peer Nocil NOCI.NS stand to benefit as the probe targets allegedly dumped resorcinol imports from China and Japan, supporting higher domestic pricing and better margins
** NOCI jumps as much as 7.17% to a 52-week high, but reverses gains to trade 1.2% lower
** Since the initiation of the probe on June 18, YASO has gained 4.1% and NOCI is up 16.8% over four sessions
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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