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Atlas Cycle shares soar on hike in customs duty
RC Bhargava, Chairman, Maruti Suzuki India, however, said that the two-wheeler segment will not be affected by excise duty hike.
19 Mar 2012, 03:10 PM IST 
Shinzo Nakanishi, Managing Director, Maruti Suzuki India
Shares of Atlas Cycles traded with strong gains for a second consecutive day on the back of a proposal to hike customs duty on imported bicycles.Shares of the company traded 7% higher at Rs 421.90 on the National Stock Exchange at 1500 hours. The stock had soared 20% on Friday. The Nifty traded 60 points lower at 5,257.The FM has proposed a hike in customs duty on imported bicycles from 10% to 30%, which is a positive for the company...
