Atlas Cycle zooms 32% post hike in customs duty on bicycles

In Budget 2012-2013 the government has increased basic customs duty on bicycles from 10% to 30% and on bicycle parts from 10% to 20%.

Atlas Cycle Industries touched an intraday high of Rs 466.60 and an intraday low of Rs 397.15. At 15:27 hrs the share was quoting at Rs 428.90, up Rs 34.65, or 8.79%.
 
It was trading with volumes of 1,457,561 shares, compared to its 5-day average of 120,381 shares, an increase of 1,110.79%.
 
In the previous trading session, the share closed up 20% or Rs 65.70 at Rs 394.25.