CHENNAI: Shares of Borosil Renewables Ltd., jumped 4.30% to Rs 518.50 a unit on Monday (July 7) at 10.56 AM, following the announcement that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency in a German court.
The move follows months of operational challenges. GMB had cooled down its furnaces in January 2025 due to poor demand and deteriorating market conditions across the European Union. A key reason cited for the slump was Chinese manufacturers dumping solar panels and solar glass at cheaper prices, significantly impacting demand for German-made products. Despite efforts to seek assistance from authorities, no measures were introduced, forcing GMB to seek legal insolvency protection.
Impact on Borosil…