Borosil Renewables shares jumped as much as 7.8% on Friday to Rs 552.50 on BSE after the Ministry of Finance announced a provisional anti-dumping duty on imports of textured tempered coated and uncoated glass from China and Vietnam, aimed at curbing unfair trade practices and protecting domestic manufacturers from the impact of cheaper imports.
The duty will be in effect for six months, starting December 4, and will apply to all glass products that are used in the solar industry.
“The Ministry of Finance (Department of Revenue) has now issued a notification dated December 04, 2024, imposing provisional anti-dumping duty on imports of the Textured Tempered Coated and Uncoated Glass from China and Vietnam,” the company disclosed in an exchange filing on December 5.
“The provisional anti-dumping duty imposed by the Ministry of Finance shall be effective for a period of six months with effect from December 04, 2024 (unless revoked, amended or superseded earlier),” the filing said.
The company’s stock has seen a notable rise in its price over the last few days, about 25% increase this week, owing to the overall positive sentiment surrounding the renewable energy sector. A continued government support for renewable energy firms is expected to benefit companies like Borosil as they expand their operations.
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