Shares of Borosil Renewables surged on Thursday, July 9, touching a day’s high of Rs 659 on the NSE after a strategic investment report.

According to the report, Borosil Renewables is holding preliminary and exploratory discussions regarding a strategic investment.

Sources cited in the report said the company’s promoters could divest part of their stake, or possibly their entire holding, if these talks eventually lead to a deal.

It is worth noting that nothing is confirmed yet. The report itself said there is no certainty the discussions will actually result in a transaction.

It also mentioned that any deal, if it happens, could value the company below its current market price, partly because of an ongoing anti-dumping duty that is set to expire only in December 2029.

The NSE has since sought clarification from Borosil Renewables regarding this news report, and the company’s response is still awaited as of Thursday afternoon. Separately, the company had some good news last month too.

Its in-house research and development unit in Hinjewadi, Pune received recognition from the Department of Scientific and Industrial Research under the Ministry of Science and Technology.

This recognition allows the R&D unit to claim customs duty exemptions on equipment and consumables used for research work, and it remains valid until March 2029.

Trading volumes were heavy through the day as well, with the stock’s total quantity crossing over 2.5 lakh shares on the buy and sell side combined.

At 14:42 pm, shares of Borosil Renewables were trading at Rs 653, up 9.82% for the day on the NSE.

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