Gujarat Borosil gains on installation of new furnace

Gujarat Borosil was up 1.88% to Rs 83.95 at 09:32 IST on the BSE after the company announced that it has set up additional furnace at its existing plant in Bharuch District of Gujarat.

The announcement was made after market hours yesterday, 24 June 2019.

Meanwhile, the S&P BSE Sensex was down by 128.28 points, or 0.33% to 38,994.68.

On the BSE, 1222 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 84 and a low of Rs 83.50 so far during the day. It hit a 52-week high of Rs 142.40 on 6 August 2018 and a 52-week low of Rs 81 on 18 February 2019.

Gujarat Borosil announced that the company has set up new additional furnace of 210 tonne per day (TPD) for production of solar glass at its existing plant in Bharuch District of Gujarat and has started trial production yesterday, 24 June 2019.

Gujarat Borosil's net profit fell 70.03% to Rs 0.92 crore on a 13.4% rise in the net sales to Rs 62.13 crore in Q4 March 2019 over Q4 March 2018.

Gujarat Borosil manufactures the world's finest textured solar glass at its works in Govali, District Bharuch, Gujarat.

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