Solar Industries surges after its arm signs contract for supply of Loiterinq Munition with Ministry of Defense
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Solar Industries India is currently trading at Rs. 3770.50, up by 6.10 points or 0.16% from its previous closing of Rs. 3764.40 on the BSE.
The scrip opened at Rs. 3760.00 and has touched a high and low of Rs. 3787.45 and Rs. 3727.55 respectively. So far 1451 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4535.95 on 03-Jan-2023 and a 52 week low of Rs. 2470.00 on 27-May-2022.
Last one week high and low of the scrip stood at Rs. 3906.65 and Rs. 3709.35 respectively. The current market cap of the company is Rs. 34015.66 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 20.94% and 5.91% respectively.
Solar Industries India’s wholly owned subsidiary -- Economic Explosives has signed a contract on April 20, 2023, for supply of Loitering Munition with Ministry of Defense, Government of India. This is a first of its kind Loitering Munition made by an Indian company. It demonstrates our ability & agility in absorbing new technologies to develop products for the future. The contract is for value of Rs 212 crore to be delivered within a period of 1 year.
Solar Industries is one of the largest manufacturers and suppliers of Explosives and Explosive Accessories in India covering the entire range of products such as Bulk and Cartridge Explosives, Detonators, Detonating Cords, Pentaerythritol Tetranitrate (PETN), and Cast Boosters.
