Graphite India has informed the exchanges that the Ministry of Finance on February 13 imposed antidumping duty on graphite electrodes (all diameters) originating in or exported from China. The amount of antidumping duty ranges from $278.19 per tonne to $922.03, depending upon the Chinese producer/exporter. The levy is expected to provide a level playing field in the domestic market, Graphite India said. Shares of Graphite India jumped 11 per cent to ₹91.05 on the NSE.
National Fertilizers (NFL) has informed the exchanges that Ramagundam Fertilizers and Chemicals - a joint venture company of NFL, Fertlizer Corporation of India (FCIL) and Engineers India Ltd (EIL) - has been incorporated on February 17. Earlier in January, NFL, EIL and FCIL signed a joint venture agreement for setting up ammonia and urea plants of 2,200 and 3,850 tonne/day capacity respectively at the existing site of Ramagundam Fertilizer Plant at Karim Nagar in Telangana. Shares of National Fertilizers surged 12 per cent at ₹39.80 on the NSE while EIL edged up slightly at ₹213.25.
Dynemic Products has completed the expansion project in Unit I for manufacturing Sodium Naphthionate and N.W. Acid, which are basic raw materials for the company's product. The project cost of ₹4.40 crore will reflect in Q3 results, it said. The commercial production of the plant has already been started, Dynemic informed the exchange. The stock closed at ₹49.8, up 2.3 per cent on the BSE.