Multibagger stock rises 8% on levy of anti-dumping duty on solar glass imports
The multibagger stock rose 7.78 per cent to Rs 552.50 against the previous close of Rs 512.60 on BSE.
- Dec 6, 2024,
- Updated Dec 6, 2024 2:59 PM IST
Shares of Borosil Renewables rose 8 per cent today after the finance ministry imposed a provisional anti-dumping duty on imports of textured tempered coated and uncoated glass from China and Vietnam. The move aims to curb unfair trade practices and protecting domestic manufacturers from the impact of cheaper imports.
Borosil Renewables stock rose 7.78 per cent to Rs 552.50 against the previous close of Rs 512.60 on BSE. Borosil Renewables stock is trading higher than 5-day, 20-day, 50-day, 100 day and 200 day moving averages.
The multibagger stock has gained 1094% returns in five years and risen 4453% in 10 years. The stock opened higher at Rs 532 on BSE. Market cap of the firm rose to Rs 7,193 crore.
The share has gained 25 per cent in 2024 and risen 27 per cent in a year. Total 5.47 lakh shares of the firm changed hands amounting to a turnover of Rs 29.85 crore.
The duty will come into effect for six months, starting December 4, and will apply to all glass products that are used in the solar industry.
“The Ministry of Finance (Department of Revenue) has now issued a notification dated December 04, 2024, imposing provisional anti-dumping duty on imports of the Textured Tempered Coated and Uncoated Glass from China and Vietnam,” said the company in an exchange filing.
“The provisional anti-dumping duty imposed by the Ministry of Finance shall be effective for a period of six months with effect from December 04, 2024 (unless revoked, amended or superseded earlier),” the filing said.
Borosil Renewables is engaged in manufacturing of Low Iron textured Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses.
Shares of Borosil Renewables rose 8 per cent today after the finance ministry imposed a provisional anti-dumping duty on imports of textured tempered coated and uncoated glass from China and Vietnam. The move aims to curb unfair trade practices and protecting domestic manufacturers from the impact of cheaper imports.
Borosil Renewables stock rose 7.78 per cent to Rs 552.50 against the previous close of Rs 512.60 on BSE. Borosil Renewables stock is trading higher than 5-day, 20-day, 50-day, 100 day and 200 day moving averages.
The multibagger stock has gained 1094% returns in five years and risen 4453% in 10 years. The stock opened higher at Rs 532 on BSE. Market cap of the firm rose to Rs 7,193 crore.
The share has gained 25 per cent in 2024 and risen 27 per cent in a year. Total 5.47 lakh shares of the firm changed hands amounting to a turnover of Rs 29.85 crore.
The duty will come into effect for six months, starting December 4, and will apply to all glass products that are used in the solar industry.
“The Ministry of Finance (Department of Revenue) has now issued a notification dated December 04, 2024, imposing provisional anti-dumping duty on imports of the Textured Tempered Coated and Uncoated Glass from China and Vietnam,” said the company in an exchange filing.
“The provisional anti-dumping duty imposed by the Ministry of Finance shall be effective for a period of six months with effect from December 04, 2024 (unless revoked, amended or superseded earlier),” the filing said.
Borosil Renewables is engaged in manufacturing of Low Iron textured Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses.