SRF surges on heavy volumes

The stock surged 7% to Rs 1,437 on the BSE on back of heavy volumes.

SRF has surged 7% to Rs 1,437 on the BSE on back of heavy volumes on reports that the government has imposed anti-dumping duty on imports from China for refrigerant Tetrafluoroethane.

According to PTI reports, the government imposed an anti-dumping duty of $ 1.22 per kilogram on import of '1,1,1,2 - Tetrafluoroethane' or 'R-134a' from China for a period of five years till July 10, 2021, said a notification by the Revenue Department. LINK

SRF Ltd, the sole producer of the chemical in India had filed an application alleging dumping of the product China. The applicant had requested for continuation and enhancement of the anti-dumping duty, imposed on the imports. LINK

At 10:06 AM, the stock was up 6% at Rs 1,422 on the BSE, as compared to 0.05% fall in the S&P BSE Sensex. The trading volumes on the counter jump nearly four-fold with a combined 543,806 shares changed hands on the BSE and NSE so far.