| Date: |
05-11-2011 |
| Subject: |
BHEL Gains nearly 2%; Fed to Impose 14% Import Duty on Chinese Equipment |
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Shares of Bharat Heavy Electricals Ltd rose extending Thursday's gains on reports that the federal government is contemplating to impose 14 percent import duty on Chinese power equipment, said two institutional sales persons.
"India seems to be veering towards imposing customs duty on Chinese power equipment. If implemented, it will be positive for BHEL (O-PF) and other domestic suppliers and negative for Chinese suppliers," said CLSA in a note.
At 3 p.m, shares of BHEL were at 335 rupees, up 1.79 percent.
Source : economictimes.indiatimes.com
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