Gujarat Borosil zooms 61% in four days on opening new facility

The stock hit a record high of Rs 135, up 18% in intra-day trade on the BSE, rallied 61% from Rs 84 on October 10, 2017.

Gujarat Borosil  moved higher to its record high at Rs 135, up 18% in intra-day trade, extending its last three-day long gains on theBSE, after the company opened its new glass melting and production facility for 2mm fully tempered solar glass.

In the past four trading sessions, the stock zoomed 61% from Rs 84.15 on Monday, October 10, 2017.

The new technology, innovated by Gujarat Borosil, was launched by R Chidambaram, Principal Scientific Advisor to the Government of India, on October 10 inaugurated the new tempered glass production facility of the company, at Bharuch, Gujarat.

“This 2mm fully tempered glass truly is the next level evolution for solar power. The 2mm glass to glass modules using bi-facial solar cells will make the power output rise by a staggering 30%. Plus the life of the module itself will increase to 40 years. Both these new features will result in a further drop in the levelised cost of solar power,” Gujarat Borosil said in a statement.

At 12:51 PM; the stock was up 14% at Rs 129, as compared to 0.7% rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly nine-fold with 1.36 million shares changed hands on the BSE so far.