Borosil Renewables shares surge 10% as government extends solar glass import duties
New Delhi, June 3 -- Shares of Borosil Renewables, a leading solar glass manufacturer and part of the Borosil Group, extended their winning streak to a second straight session, surging 10% to the day's high of Rs.549.90 apiece after the government imposed fresh duties on imports from Malaysia.
If today's rally sustains through the close, it would mark the stock's biggest single-day gain in more than a year. Including today's intraday surge, the stock has gained nearly 12% over the last two sessions.
India's Finance Ministry announced a five-year extension of the so-called countervailing duties, which are imposed on imports to offset subsidies received by foreign competitors in their domestic markets.
The levies on textured tempered gla...
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