Borosil Glass trades ex-bonus in ratio of 3:1; stock surges 10%

The stock hit a new high of Rs 321, up 10% on the BSE in intra-day trade.

Shares of Borosil Glass Works rallied 10% to Rs 321, also its new high (adjusted to bonus issue) on the BSE in an otherwise weak market. The stock of houseware company trade ex-bonus in the ratio of 3:1 i.e. 3 equity shares for every one equity share held.

Borosil Glass Works has fixed Friday, August 03, 2018 as the 'Record Date' for the purpose of determining entitlement of shareholders for bonus issue of equity shares.

Since June 18, 2018, the stock has outperformed the market 45% after the company’s board approved bonus issue. In comparison, the S&P BSE Sensex was up 4.8% during the same period.

At 10:15 am; Borosil Glass Works was trading 8% higher at Rs 316 on the BSE, as compared to 0.53% decline in the benchmark index. A combined 353,919 equity shares changed hands on the counter on the BSE and NSE so far.

Borosil Glass Works Limited conducts its operations in two business segments, namely its Scientific & Industrial Products Division (SIP) and its Consumer Products Division (CPD).

“With a rising consciousness against plastic in the country, there is a gradual shift of storage of food items from plastic containers to glass/ stainless steel substitutes. The state government of Maharashtra recently took an admirable step in banning certain types of plastic in order to preserve a cleaner environment and help protect public health. Borosil is focused on providing its consumers a range of non-plastic solutions for kitchen storage, dining and in the To-Go segment with its Glass Lunch Boxes & Jars, Larah Opal Tableware and Hydra Stainless Steel Flask range,” the company said in an annual report.