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.