Shares of Borosil Renewables Limited surged by 5% to ₹574.40 on January 8, locking in the upper circuit for the second straight day. The rally follows news of promoter Kiran Kheruka increasing their stake in the company through open market transactions.
On January 6, Kheruka acquired 96,000 shares, amounting to a 0.07% stake, for ₹5.4 crore. This transaction raised their holding from 3.57% to 3.64%. Promoter stake increases are often viewed positively, as they signal confidence in the company’s growth trajectory. The stock has witnessed strong buying momentum since the announcement.
Key Growth Catalysts:
- Promoter Stake Increase: The purchase reflects the promoter’s confidence in the company’s long-term prospects.
- Anti-Dumping Duty on Imports: The government’s recent imposition of anti-dumping duty on solar glass imports from China and Vietnam is expected to strengthen domestic players like Borosil Renewables, enhancing its growth potential.
Borosil Renewables Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Tue, Jan 7 2025
|
₹519.95
|
₹547.05
|
|
|
Mon, Jan 6 2025
|
₹548.40
|
₹521.00
|
-5.00%
|
|
Fri, Jan 3 2025
|
₹542.05
|
₹548.40
|
|
|
Thu, Jan 2 2025
|
₹556.00
|
₹547.45
|
-1.18%
|
|
Wed, Jan 1 2025
|
₹560.00
|
₹554.00
|
-1.15%
|
|
Tue, Dec 31 2024
|
₹542.00
|
₹560.45
|
|
|
Mon, Dec 30 2024
|
₹570.00
|
₹548.75
|
-3.14%
|
|
Fri, Dec 27 2024
|
₹565.00
|
₹566.55
|
|
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
