Equity Alert: Welspun-Gujarat up 9% on export duty exemption news
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K.Karthik Raja
Jun 16, 2008, 1:27:14 AM6/16/08
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Equity Alert: Welspun-Gujarat up 9% on export duty exemption news
MUMBAI--10:50AM--Shares of Welspun-Gujarat Stahl Rohren were up 9%
at 371.90 rupees on news government has exempted export duty on
galvanised steel products, pipes and tubes.
Welspun-Gujarat is among the leading steel pipe manufacturers in
the country.
The exemption of export duty is seen helping the company as
exports comprise 90% of its sales.
The share may face resistance at 389 rupees.
So far, 567,202 shares of the company have been traded on NSE.
June contract of Welspun-Gujarat was at 371.50 rupees, up 8.72%
from
previous close, with open interest at 2.51 mln.
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MUMBAI--10:50AM--Shares of Welspun-Gujarat Stahl Rohren were up 9%
at 371.90 rupees on news government has exempted export duty on
galvanised steel products, pipes and tubes.
Welspun-Gujarat is among the leading steel pipe manufacturers in
the country.
The exemption of export duty is seen helping the company as
exports comprise 90% of its sales.
The share may face resistance at 389 rupees.
So far, 567,202 shares of the company have been traded on NSE.
June contract of Welspun-Gujarat was at 371.50 rupees, up 8.72%
from
previous close, with open interest at 2.51 mln.
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