Asian Granito India Limited Export beneficiary for Tiles & Quartz

Asian Granito India Limited is bullish on the demand for the quartz from USA market on account of sharp decline in CVV and Antidumping duty by USA on import of Indian Quartz. Earlier USA has levied CVV and Antidumping duty of 87.5% on Indian Quartz, however now they have revised their duty to around 3.19% for Asian Granito India Limited which will help company export Quartz to USA. Contradictory to that USA imposed antidumping and CVD on Chinese upto 336.69%. In addition, the final countervailing duty rates for imports of quartz slabs from China upto 190.99%. Together, these duties amount up to over 500%, for all imports of quartz surface products from China.

AGIL being one of the largest manufacture of the Quartz in India will be key beneficiary of lower duty on quartz compared to China. This development will help AGIL to target USA market which exclusive range of Quartz which is further help AGIL to became one of the biggest exporter in Quartz from India. Last year AGIL have seen very aggressive growth in export sales which we are likely to see in current year too, hence all this developments is favourable for the AGIL in near to long term.

USA on tiles have levied antidumping upto 356.02% and anti subsidy duties of upto 358.81% on Chinese imports of a wide range of ceramic tiles products. Together the duty on Chinese tiles is upto 714.83%. However on Indian tiles USA have levied duties upto 8.5% which will further raise the scope of tiles export to USA from India.

The above recent positive development for Indian Manufacturer specially Asian Granito India Limited will be the key beneficiary of the lower duties on tiles compared to China.

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.214.1 as compared to the previous close of Rs. 210.45. The total number of shares traded during the day was 30510 in over 671 trades.

The stock hit an intraday high of Rs. 220.05 and intraday low of 205.1. The net turnover during the day was Rs. 6534466.

Source : Equity Bulls

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