Borosil Renewables’ shares surge over 25% this week – Know why

Shares of Borosil Renewables Ltd. saw a significant rally this week, climbing by 25.25% to close at ₹554.55 on December 6, 2024. The stock gained ₹42.50 during today’s session, marking a strong weekly performance.

Weekly Performance:

• Current Price: ₹554.55
• Weekly Gain: ₹111.50 (25.25%)

This surge comes on the back of a key development: the Ministry of Finance imposed a provisional anti-dumping duty on imports of solar glass from China and Vietnam, effective from December 4, 2024. This move has provided a boost to domestic solar glass manufacturers, including Borosil Renewables.

Key Context:

• Anti-dumping Duty: The Ministry imposed the duty on Textured Tempered Coated and Uncoated Glass (also known as solar glass) to protect domestic producers. This duty addresses the significant drop in prices due to Chinese and Vietnamese exporters slashing their FOB prices by up to 32% between June and September 2024.
• Maharashtra’s Renewable Energy Focus: The Maharashtra Chief Minister’s recent emphasis on renewable energy has further bolstered the outlook for Borosil Renewables, positioning it as a major player in the solar glass industry.

Recent Performance:

• 1-Month Gain: 24.91%
• Year-to-Date Gain: 26.06%
• 1-Year Gain: 28.07%
• 5-Year Gain: 1.19K%
• All-Time Gain: 971.10%

Borosil Renewables Share Price history