Bhel surges on reports of import duty on power equipment

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, July 19, 2012, 12:21 [IST]

Shares of power equipment major, Bhel, surged today on reports that the government was considering import duty on power equipment.

Shares of Bhel was trading up more than 2.51% at Rs 235 per share on the National Stock Exchange.

Over the last few quarters, power equipment manufactures have been facing stiff competition from imports and if reports are to be believed the government is likely to consider a 21% import duty on power equipment.

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