Hanung Toys ends up 20% on ban on Chinese toys

MUMBAI: Shares of Hanung Toys rose 20% on Tuesday on the back of steps taken by the Indian government to ban toys from China. The share closed at Rs 29.40.

To protect the domestic industry from cheap imports, India government on Friday banned import of toys from China. The ban is for six months, as notified by the Directorate General of Foreign Trade.

Analyst believe that China's toy industry has come under close scrutiny after millions of goods last year were recalled globally amid fears that they were made with toxic lead paints or had dangerous design flaws.