03 Aug 2024

Borosil Renewables Sees Uptick on New Maharashtra Company Formation

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

The stock began trading at Rs. 540.15, hitting a peak of Rs. 551.60 and a low of Rs. 536.35. A total of 38,571 shares have been exchanged so far.

This BSE group 'A' stock, with a face value of Rs. 1, 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's high and low stood at Rs. 570.90 and Rs. 522.25 respectively. The company’s current market capitalization is Rs. 7,156.08 crore.

Promoters hold 61.60% of the company, while institutional and non-institutional investors hold 4.55% and 33.84%, respectively.

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

Formed by Borosil Renewables and several other members of the solar ancillary industry, SAMA aims to collaborate and present the industry's interests to the government and relevant authorities. This initiative will help ensure that the solar ancillary sector's needs are considered in policy development.

Borosil Renewables specializes in producing low iron textured solar glass for use in solar photovoltaic modules within the power sector.