Borosil Limited approves expansion plan

The Board of Directors of Borosil Limited have considered and approved the expansion plan of setting up of Borosilicate 3.3 expansion tubing furnace at its plant in Village Boridra-Dumala, Bharuch, Gujarat for manufacture of glass tubings.

The proposed capacity addition is 20 to 24 Metric Tonnes (MT) Per Day. The expansion project will be at an outlay of Rs. 100 crores which will be funded through mix of debt and Internal accruals.

Glass tubing is one of the main components used as a raw material for Company's various products. This tubing is presently imported. The landed cost of the same is going up perennially, as also supplies have become irregular owing to various supply chain issues. In order to overcome this situation, it has been decided to set up Company's own plant for manufacturing such tubing.

Shares of Borosil Limited was last trading in BSE at Rs. 330.85 as compared to the previous close of Rs. 329.80. The total number of shares traded during the day was 255745 in over 7706 trades.

The stock hit an intraday high of Rs. 349.00 and intraday low of 306.60. The net turnover during the day was Rs. 83416659.00.

Source : Equity Bulls

Keywords

BorosilLimited INE02PY01013 ExpansionProject Borosilicate