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Anti-dumping: Hindustan Inks gets clean chit from US

July 21, 2003 11:50 IST

Hindustan Inks And Resins, in a release issued to the NSE on Monday, said that the United States International Trade Commission has determined that there is no reasonable indication that the US industry is materially injured or threatened with material injury on the basis of imports by its wholly owned subsidiary, Micro Inks Corporation, USA.

All four commissioners voted in the negative and the investigations will end, the release added.

The anti-dumping and countervailing duty petition was filed before the US International Trade Administration by competitors like Sun Chemicals Corporation, Apollo Colors Inc, General Press Colors and Magruder Color Company Inc, it said.

The petition alleged that the imports by Micro Inks are injuring the domestic industry by selling certain color pigment dispersions at less than fair value.

The stock has zoomed 13% (Rs 33) to Rs 290 on the NSE at 1115 hrs.