Borosil Renewables has seen a surge of late and at this point in time its 20-day moving average (DMA) exponential is deep at around Rs 170 and that is where the risk is but that is also because it has run up so swiftly in the last five days.

In terms of volumes, the five-day average volumes came at around 2.3 times as compared to one month. Delivery volumes nearly at two times as compared to one month and the reason why we are seeing this spike is largely because of expectations that there will be an increase in demand for solar glass, which is the company’s key product and also an expectation of adaption of solar power in general which will lead to higher demand for some of its products and that’s the reason strength is seen in Borosil.

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(Edited by : Ajay Vaishnav)