In an attempt to stop unfair trade practices and shield domestic manufacturers from the effects of lower-priced imports, the Ministry of Finance announced a provisional anti-dumping duty on imports of textured tempered coated and uncoated glass from China and Vietnam. This move caused Borosil Renewables’ shares to jump as much as 7.8% on Friday to Rs 552.50 on the BSE.
All glass items used in the solar business will be subject to the six-month tariff, which will begin on December 4. The business said in an exchange filing on December 5 that the Ministry of Finance (Department of Revenue) had now issued a notification dated December 04, 2024, imposing a provisional anti-dumping duty on imports of Textured Tempered Coated and Uncoated Glass from China and Vietnam.
The company’s stock price has increased significantly in recent days, by almost 25% this week, as a result of the generally favorable feeling surrounding the renewable energy industry. It is anticipated that businesses like Borosil will gain from ongoing government assistance for renewable energy enterprises as they grow.
Solar stock, Borosil Renewables share price
The stock has recovered from a 20% decline in value between August and November 2024 by rising 22% so far this month. A major contributor to the creation of low iron, textured solar glass, which is utilized in the construction of solar photovoltaic modules for the power industry, is Borosil Renewables, the nation’s first manufacturer of solar glass.
Solar power has continued to be the dominant source of new power capacity expansions over the previous seven years, despite rising power demand. The Indian government’s ambitious target of installing 280 GW of solar power by 2030, together with policies like the implementation of BCD and PLI schemes and a preference for indigenous solar modules, is fueling the country’s ongoing need for solar glass.
