Borosil Renewables Ltd Share Price – NSE  /  BSE

Glass & Glass Products, Small Cap

The Finance Bill 2024, presented on 23 July 2024, proposed a 10% basic customs duty on solar glass imports starting 1 October 2024. This removes the previous exemption for solar tempered glass used in manufacturing solar cells and panels.

This move aims to create a level playing field for domestic manufacturers like Borosil Renewables, India's leading producer of solar glass.

Borosil Renewables is the first and only solar glass manufacturer in India. On a consolidated basis, the company reported net loss of Rs 48.07 crore in Q4 March 2024 as against net profit of Rs 10.10 crore in Q4 March 2023. Net sales declined 8.39% YoY to Rs 283.11 crore in Q4 March 2024.

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Astrazeneca Pharma India Ltd, Asahi India Glass Ltd, Easy Trip Planners Ltd, Glaxosmithkline Pharmaceuticals Ltd are among the other stocks to see a surge in volumes on NSE today, 23 July 2024.

Borosil Renewables Ltd saw volume of 202.03 lakh shares by 14:14 IST on NSE, a 37.66 fold spurt over two-week average daily volume of 5.36 lakh shares. The stock increased 8.98% to Rs.522.90. Volumes stood at 4.25 lakh shares in the last session.

Astrazeneca Pharma India Ltd registered volume of 1.74 lakh shares by 14:14 IST on NSE, a 15.99 fold spurt over two-week average daily volume of 10883 shares. The stock rose 12.14% to Rs.7,005.30. Volumes stood at 11968 shares in the last session.

Asahi India Glass Ltd notched up volume of 16.67 lakh shares by 14:14 IST on NSE, a 11.45 fold spurt over two-week average daily volume of 1.46 lakh shares. The stock rose 5.98% to Rs.681.95. Volumes stood at 3.91 lakh shares in the last session.

Easy Trip Planners Ltd saw volume of 648.75 lakh shares by 14:14 IST on NSE, a 11.12 fold spurt over two-week average daily volume of 58.35 lakh shares. The stock increased 5.70% to Rs.42.30. Volumes stood at 37.71 lakh shares in the last session.

Glaxosmithkline Pharmaceuticals Ltd clocked volume of 12.01 lakh shares by 14:14 IST on NSE, a 9.82 times surge over two-week average daily volume of 1.22 lakh shares. The stock gained 3.01% to Rs.2,700.00. Volumes stood at 1.93 lakh shares in the last session.

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The domestic equity benchmarks continued to trade with decent gains in the morning trade. The Nifty scaled above the 23,550 mark. Bank shares advanced in two consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 205.60 points or 0.27% to 77,546.68. The Nifty 50 index added 55.45 points or 0.25% to 23,596.65. The Nifty Bank clocked an all-time high of 52,118.25 in morning trade.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.62%.

The S&P BSE Small-Cap index hit an all-time high at 52,542.41.

The market breadth was positive. On the BSE, 2,193 shares rose and 1,202 shares fell. A total of 115 shares were unchanged.

Economy:

India's telecom spectrum auction starts today (June 25th) offering airwaves worth Rs 96,318 crore. The government reportedly aims for Rs 10,000 crore. This auction includes frequencies from 800 MHz to 26 GHz bands and offers 20-year validity with options for sharing or surrendering spectrum after 10 years.

Buzzing Index:

The Nifty Bank index rose 0.79% to 52,113.55. The index added 0.87% in the two trading sessions.

Axis Bank (up 1.34%), HDFC Bank (up 1.03%), AU Small Finance Bank (up 0.83%), State Bank of India (up 0.76%), Federal Bank (up 0.65%), Bank of Baroda (up 0.55%), ICICI Bank (up 0.32%), IDFC First Bank (up 0.1%) edged higher.

On the other hand, Bandhan Bank (down 1.31%), Punjab National Bank (down 0.3%) and IndusInd Bank (down 0.22%) slipped.

Stocks in Spotlight:

Amara Raja Energy & Mobility was locked in 20% upper circuit after its subsidiary Amara Raja Advanced Cell Technologies signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd.

AU Small Finance Bank rose 0.90% to Rs 685.60. The company announced to consider raising funds through QIP on June 27.

Bandhan Bank declined 1.40% to Rs 204.85. The bank said that the Reserve Bank of India has appointed Arun Kumar Singh as an additional director on the board of the bank, for a period of one year from 24 June 2024 to 23 June 2025 or till further orders, whichever is earlier.

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The board stated that it has approved the draft letter of offer to be filed with the Securities and Exchange Board of India and BSE and National Stock Exchange of India for their requisite approvals.

Borosil Renewables is engaged in the business of manufacturing of extra clear patterned glass and low-iron solar glass for application in photovoltaic panels, flat plate collectors and green houses.

The company reported a consolidated net loss of Rs 48.07 crore as against a net profit of Rs 10.10 crore in Q4 FY24 over Q4 FY23. Revenue from operations fell 8.39% to Rs 283.11 crore in Q4 FY24.

The scrip rose 0.63% to currently trade at Rs 494.60 on the BSE.

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