Borosil Renewables edges higher on forming company in Maharashtra
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Borosil Renewables is currently trading at Rs. 548.20, up by 0.80 points or 0.15% from its previous closing of Rs. 547.40 on the BSE.
The scrip opened at Rs. 540.15 and has touched a high and low of Rs. 551.60 and Rs. 536.35 respectively. So far 38571 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 667.40 on 01-Feb-2024 and a 52 week low of Rs. 391.55 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 570.90 and Rs. 522.25 respectively. The current market cap of the company is Rs. 7156.08 crore.
The promoters holding in the company stood at 61.60%, while Institutions and Non-Institutions held 4.55% and 33.84% respectively.
Borosil Renewables has formed a company under Section 8 of the Companies Act, 2013. This newly established entity, named ‘Solar Ancillary Manufacturers' Association’ (SAMA) has been incorporated in the state of Maharashtra, as per the Certificate of Incorporation granted by the Central Registration Centre, Manesar, the Ministry of Corporate Affairs.
SAMA has been formed by the Company and a few other members engaged in the solar ancillary industry. The primary objective of this association is to collaborate and collectively represent the industry's views before the government/ appropriate authorities. This will ensure that their interests are considered during the formulation of policies related to the solar ancillary sector.
The company is engaged in the production of low iron textured solar glass used in the manufacturing of solar photovoltaic modules in the power sector.
