Solar Industries gains as its arm acquires majority stake in Problast BS
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Solar Industries India is currently trading at Rs. 12294.85, up by 152.15 points or 1.25% from its previous closing of Rs. 12142.70 on the BSE.
The scrip opened at Rs. 12498.10 and has touched a high and low of Rs. 12498.10 and Rs. 11832.60 respectively. So far 3279 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 12535.25 on 03-Jul-2024 and a 52 week low of Rs. 3456.95 on 11-Jul-2023.
Last one week high and low of the scrip stood at Rs. 12535.25 and Rs. 9925.35 respectively. The current market cap of the company is Rs. 110895.11 crore.
The promoters holding in the company stood at 73.15%, while Institutions and Non-Institutions held 20.62% and 6.23% respectively.
Solar Industries India’s step-down subsidiary-- Solar Mining Services Pty, South Africa has acquired a majority stake in ‘Problast BS (Pty)’ South Africa. Problast BS (Pty) has been recognized as the premier blasting solution provider in South Africa since 2016. The company’s investment in Problast BS (Pty) is in line with the long-term business plan of the company to expand its business operations in African continent.
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.
