Ludlow Jute breaches 20% UC

Ludlow Jute, after opening at Rs.93, zoomed up 20% to breach the UC at Rs.107.85, with volumes up by an unbelievable 57 times. It is now pretty close to its 52-week high of Rs.114.

The stock is up, happy with the news that the Govt has imposed an anti-dumping duty ranging from US$6.30 to 351.72 per tonne on imports of jute and its products from Bangladesh and Nepal to protect domestic industry.

This anti-dumping duty has been imposed for a period of five years.

The import restrictive levy has been imposed on jute yarn/twine, Hessian fabric and jute sacking bags in all forms and specifications.

This has been a long pending demand of the Indian jute industry and there is a sense of relief that it has finally made the domestic industry competitive.