On Friday, Borosil Renewables share price surged 10% and hit the upper circuit at ₹532.20 on the BSE. This rally came even though the overall stock market was weak, with the BSE Sensex down 1.1% at 79,441 around 2:57 PM.
The major reason behind the sudden spike in Borosil Renewables' stock price was the imposition of an anti-dumping duty on solar glass imports from China and Vietnam.
The (MoF) Ministry of Finance issued a notification on May 8, 2025, confirming that this duty will be effective for 5 years from December 4, 2024.
Earlier on February 12, 2025, the company had informed investors that the Directorate General of Trade Remedies (DGTR) recommended this duty. This recommendation has now been officially approved and notified.
Read More, ITC Announces Dividend and Q4 FY25 Results Date: 7 Key Points You Should Know.
Borosil Renewables appreciated the government’s decision, stating that it would bring back fair competition in the Indian market. The company believes this move will strengthen the domestic solar glass industry, which is likely to see strong growth in the coming years under this protective measure.
Solar energy is becoming one of the most preferred sources of power globally. The rising use of electric vehicles and green hydrogen will further boost solar power demand.
Government initiatives like the PM Surya Ghar Yojana, which aims to install rooftop solar panels in over 1 crore households, will push demand even more.
In its FY24 annual report, the company said that countries like the US, EU, and India are encouraging the use of locally made solar modules. In India, schemes like Basic Customs Duty (BCD) on solar cells and modules, ALMM (Approved List of Models and Manufacturers), and PLI (Production Linked Incentives) are promoting local manufacturing.
This has led to a sharp increase in the manufacturing capacity of various solar module components. India is not only working toward self-reliance in solar manufacturing but is also expected to become an export hub in this sector.
Borosil Renewables manufactures low iron textured solar glass, which is used in:
Photovoltaic panels (for solar power)
Flat plate collectors
Greenhouses
This special glass is a key part of solar panels used in renewable energy production.
The imposition of anti-dumping duty marks a strong policy push for domestic solar glass makers like Borosil Renewables. With rising demand from clean energy sectors and supportive government schemes, the company is well-positioned to benefit from both local growth and future export opportunities.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.
Published on: May 9, 2025, 9:42 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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