NOCIL share price jumped as much as 20% to ₹190.82 apiece on NSE in Monday’s trading session after the government imposed anti-dumping duties on imports of Sulphenamides Accelerators from China, the United States, and the European Union for the next five years.
The stock opened at ₹165.09 per share today, as compared to previous close of ₹159.02 on Friday last week.
Why are Nocil shares rising today?
The Directorate General of Trade Remedies (DGTR) has levied an anti-dumping duty (ADD) on imports of Sulphenamide Accelerators from China, the United States, and the European Union for a period of five years, according to media reports.
NOCIL, the country’s largest manufacturer of rubber chemicals, produces a comprehensive range of Sulphenamide Accelerators under its Pilcure brand. These chemicals play a vital role in the vulcanisation process and are essential inputs for the rubber and tyre manufacturing industry.
The move is intended to shield domestic producers from low-priced imports, potentially enhancing the pricing power and market share of local manufacturers such as NOCIL.
Earlier, in March, the Commerce Ministry had formally announced the imposition of anti-dumping duties on rubber accelerators imported from China, the US, and the EU, reinforcing support for domestic industry participants.
According to NOCIL’s shareholding pattern available on BSE for the quarter ended March, promoters held a 33.76% stake in the company.
Domestic mutual funds collectively owned 7.1% of NOCIL, with the largest holdings coming from ICICI Prudential Commodities Fund (3.35%) and Mahindra Manulife Small Cap Fund (2.39%).
Foreign Portfolio Investors (FPIs) accounted for a 4.5% stake in the company.
Meanwhile, nearly 1.6 lakh retail shareholders holding authorised share capital of up to ₹2 lakh together owned 26.2% of NOCIL.
Nocil share price trend
NOCIL share price has maintained a positive momentum in the short term, although it has witnessed a decline over the longer term. The stock has gained 16.49% in a week and 13.33% in a month.
Furthermore, the NOCIL shares have delivered over 25% returns in year-to-date (YTD) basis and 4% gains in a year.
However, the stock has fallen 14.42% in three years and 11.17% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
