Borosil Glass Works Ltd (BSE:502219, NSE: BOROSIL) will form a new wholly owned subsidiary Borosil Tableware Ltd or any such name approved by the Registrar of Companies (RoC). The new venture is intended to do deal in opalware items with an initial authorised and paid up capital of Rs 10 lacs.

Borosil shares rose to a high of 972.05 on Friday trading as against previous close of 947.45. The scrip has underperformed the Sensex by 5.13% on annualised basis. The Q4FY18 results indicated 556.17% growth in gross profit and 65.9% growth in net profit. Return on capital employed was the highest on half yearly basis at 8.59%. The scrip has witnessed 21.99% growth on monthly basis while sectoral growth was -1.54%. At a PE of 47.12, it is over valued and techincally bearish to neutral in near term. This scrip has low mutual fund holding and mildly negative for long term.

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