Why did Borosil Renewables hit 10% upper circuit on Friday? Find out here

The Ministry of Finance notified levy of anti-dumping duty for a period of five years from December 04, 2024, on import of solar glass from China and Vietnam.

Share price of Borosil Renewables today

 

Shares of Borosil Renewables were locked in the 10 per cent upper circuit at ₹532.20 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market on imposition of anti-dumping duty on imports from China and Vietnam. In comparison, the BSE Sensex was down 1.1 per cent at 79,441 at 02:57 pm.

 

The average trading volumes at the counter jumped over eight-fold. A combined 1.55 million equity shares changed hands on the NSE and BSE. There were pending buy orders for around 4,000 shares on the bourses, the exchange data shows. 

 

What’s fueling rally in Borosil Renewables?

 

In an exchange filing, Borosil Renewables informed that the Ministry of Finance vide its notification dated May 08, 2025, notified levy of anti-dumping duty for a period of five years from December 04, 2024, on import of solar glass from China and Vietnam.

 

On February 12, 2025, the company had informed that the DGTR (Ministry of Commerce & Industry) recommended levy of a duty on all the imports of solar glass originating in or exported from China and Vietnam, for a period of five years from the date of issue of the preliminary duty notification No. 26/2024-Customs (ADD) dated December 04, 2024. This had been forwarded to the Ministry of Finance for confirmation and issue of the necessary notification.

 

Borosil Renewables said the company welcomes this decision of the imposition of anti-dumping duty. Further, the company said it firmly believes that while restoring fair competition and creating a level playing field for domestic manufacturers, this will encourage rapid and significant growth in domestic manufacturing of solar glass, leading to exponential growth in India’s solar glass industry. 

 

Outlook

 

Solar power remains the single most preferred source to meet the growing demand for power worldwide. Electrical vehicles are already becoming an area for demand growth and Green hydrogen is expected to be the next growth area which will need Solar power. The most recent move by the Central Government to facilitate roof top solar installations at over 1 crore households under the “PM surya ghar yojana” will further boost the demand. All these factors will ensure continuous demand visibility and high growth in this industry. A significant portion of new power installations is by way of renewable energy and the share of solar power in the renewable as well as overall energy basket is rising rapidly.

 

The company in its FY24 annual report said that it anticipates a gradual shift in preference to the use of locally produced modules across major economies like the US, European Union (EU) and India which are providing support and incentives to boost local manufacturing. The domestic manufacturing sector in India has received a significant boost on account of the imposition of basic customs duty (BCD) on solar cells and modules, Approved List of Models and Manufacturers (ALMM) scheme and Production Linked Incentives (PLI). Consequently, there have been significant capacity additions in all the components in the solar module value chain. It is expected that the country will not only achieve self-sufficiency in this strategically important industry but also become a major center for exports. 

 

About Borosil Renewables 

 

The company is engaged in manufacturing of Low Iron textured Solar Glass for application in Photovoltaic panels, Flat plate collectors and Green houses. Low iron textured solar glass is a component used in the manufacture of solar photovoltaic modules in the power sector.