Shares of Balaji Amines Ltd jumped nearly 7 percent on Thursday, as investors cheered prospects of anti-dumping duty on ethylene diamine imports from China, the European Union, Saudi Arabia and Taiwan.

At around 12 noon, Balaji Amines shares were trading 6.9 percent higher at Rs 2,234. The stock has surged about 101 percent so far in 2026, sharply outperforming the Nifty 50, which is down 7.8 percent during the same period. Alkyl Amines Chemicals Ltd stock also rose, and was trading at Rs 1,804, up 2.2 percent.

The government has recommended anti-dumping duty on ethylene diamine imports from the four regions following a trade-remedies investigation, which found that low-priced imports had hurt the domestic industry. The final decision on imposing the duty rests with the Finance Ministry. Ethylene diamine is a chemical intermediate used in sectors such as pharmaceuticals, agrochemicals, resins, coatings and other specialty chemical applications.

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The proposed duty is seen as positive for domestic producers of ethylene diamine and related amines, as it could help reduce pressure from cheaper imports and improve pricing power for local manufacturers. Balaji Amines manufactures aliphatic amines, amine derivatives and specialty chemicals used across industries including pharmaceuticals, agrochemicals, pesticides and other industrial applications.

The rally also comes after the company reported a strong set of earnings for the March quarter. Balaji Amines posted a 58 percent year-on-year increase in EBITDA to Rs 94 crore, while EBITDA margin expanded by 700 basis points to 23.9 percent. Revenue from operations rose 12 percent to Rs 395 crore, and net profit climbed 58 percent to Rs 63 crore, supported by improved operating efficiency and a better product mix.

The broader market also traded in positive territory. At 12:06 pm IST, the Sensex was up 345.75 points, or 0.45 percent, at 77,268.39, while the Nifty gained 102.80 points, or 0.43 percent, to 24,108.65.

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