03 Aug 2024

Borosil Renewables Sees Slight Increase Amid New Company Formation in Maharashtra

Borosil Renewables is currently trading at Rs. 548.20, which is an increase of 0.80 points or 0.15% from its previous close of Rs. 547.40 on the BSE.

The stock opened at Rs. 540.15 and fluctuated between a high of Rs. 551.60 and a low of Rs. 536.35. To date, 38,571 shares have exchanged hands.

As a BSE group 'A' stock with a face value of Rs. 1, Borosil Renewables reached a 52-week high of Rs. 667.40 on February 1, 2024, and a 52-week low of Rs. 391.55 on October 26, 2023. Over the past week, the stock has ranged between Rs. 570.90 and Rs. 522.25. The company's current market capitalization stands at Rs. 7,156.08 crore.

The company's ownership structure shows that promoters hold 61.60% of the shares, while institutions and non-institutions hold 4.55% and 33.84%, respectively.

Borosil Renewables has established a company under Section 8 of the Companies Act, 2013. This new entity, named 'Solar Ancillary Manufacturers' Association' (SAMA), has been incorporated in Maharashtra, as confirmed by the Certificate of Incorporation from the Central Registration Centre, Manesar, under the Ministry of Corporate Affairs.

SAMA was formed by Borosil Renewables along with other key players in the solar ancillary industry. Its main goal is to unify and represent the industry's interests to the government and other relevant authorities, ensuring their concerns are addressed in policy-making related to the solar ancillary sector.

Borosil Renewables specializes in producing low iron textured solar glass, which is essential for manufacturing solar photovoltaic modules used in the power sector.