Select consumer durables plunge; Voltas tanks 6% on import duty hike

Shares of select consumer durables companies plunged up to 6.2 per cent Thursday following hike in custom duty on compressors, used for air conditioners and refrigerators.

Shares of Voltas tanked 6.19 per cent, Blue Star 5.26 per cent, Havells 5.20 per cent and Whirlpool 3.17 per cent per cent on BSE.

The BSE consumer durables index also fell by 1.43 per cent to end at 19,571.14.

The government Wednesday raised import duties on 19 items, including air conditioners.

The import duty on air conditioners, household refrigerators and washing machines (less than 10 kg) doubled to 20 per cent. The basic customs duty on compressors, speakers and footwears raised to 10 per cent, 15 per cent and 25 per cent, respectively.