10 Factors Driving Borosil Renewable Stock Rally

Share price of solar glass maker Borosil Renewables rose 11% to ₹598.65 per share during intraday trade.

The increase came after India initiated anti-dumping investigation into specific solar glass imports from China and Vietnam, prompted by complaints from domestic industry players.

The Directorate General of Trade Remedies (DGTR), the investigation arm of the Commerce Ministry, is probing the alleged dumping of 'Textured Temperature Coated and Uncoated Glass'.

Borosil Renewables has filed an application for investigation on behalf of the domestic industry seeking imposition of anti-dumping duty on imports.

Borosil Renewables is the first producer of solar glass in India, manufacturing low iron textured solar glass used in solar photovoltaic modules for the power sector.

The increasing power demand, coupled with initiatives like PM Surya Ghar and achieving the target of 280 GW solar power installation by 2030, contributes to the demand for solar glass.

PM Surya Ghar aims to provide 300 units of free electricity per month to beneficiaries, promote free solar power generation and the ability to sell surplus energy.

The EU's Solar Accelerator Program and the Green Deal, which focuses on reducing dependence on Chinese imports and promoting local manufacturing, are driving demand for solar glass in European markets.