Borosil Glass moves higher on acquisition proposal

Borosil Glass Works saw an increase in trading of 1.24% on the BSE after scheduling a Board Meeting to discuss an acquisition proposal.

Borosil Glass Works was up 1.24% to Rs 834.60 on the Bombay Stock Exchange (BSE) last week after the company scheduled a board meeting to consider a proposal for acquisition of two existing closely held non-listed domestic public limited companies.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 17,622 shares in the past one quarter. The stock had hit a high of Rs 836 and a low of Rs 815 so far during the day. The stock had hit a record high of Rs 1,125 on 17 January 2018 and a 52-week low of Rs 620.05 on 29 March 2017.

The small-cap company has equity capital of Rs 2.31 crore. Face value per share is Rs 1.

Borosil Glass Works' meeting of the board of directors is scheduled to be held on Friday, 30 March 2018, to consider acquisition of 100% shares of two companies.

Borosil Glass Works' net profit fell 86.9% to Rs 12.75 crore on 9.5% growth in net sales to Rs 78.84 crore in Q3 December 2017 over Q3 December 2016.

Borosil Glass Works is a holding company, which manufactures scientific ware items and consumer ware items.