Borosil shares rise 6% amid market crash today; here's why 

Shares of Borosil Ltd rose over 6% on Monday after the kitchen-glassware maker said the government was recommending anti-dumping duty on Chinese imports. Borosil shares gained 6.17% to Rs 280.95 in the current session against the previous close of Rs 264.60. Market cap of the firm rose to Rs 3311.38 crore.

The Directorate General of Trade Remedies’ recommendations cover duty on imports for five years, the company said in an exchange filing.

DGTR’s findings will lead to “a more level competitive environment” for borosilicate table and kitchen glassware business in India, the firm said.

The trading volume of the stock was more than 166% of the three-month full-day average.

The DGTR has recommended imposition of anti-dumping duty on imports of the subject goods originating in or exported from China PR for a period of five (5) years from the date of the notification to be issued in this regard by the Central Government.

The aforesaid Final Findings are a positive development for the Company and are expected to support a more level competitive environment for the Company's borosilicate table and kitchen glassware business in India. Meanwhile, Sensex tanked over 1,000 points on Monday amid negative global cues.

Borosil Limited is a leading Indian consumer products company with a legacy spanning over six decades. Originally established as a pioneer in borosilicate glassware, the company has diversified into a comprehensive lifestyle brand.