The government has increased basic customs duty on bicycles from 10% to 30% and on bicycle parts from 10% to 20%.
Atlas Cycle Industries gained 20% or Rs 65.70 at Rs 394.25. It touched an intraday high of Rs 394.25 and an intraday low of Rs 327.20.There were pending buy orders of 16,646 shares, with no sellers available.
In the previous trading session, the share closed down 1.68% or Rs 5.60 at Rs 328.55.
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