Defence stock jumps after receiving order worth ₹239 Cr for supply of hand grenades for Defence MinistryDefence stock jumps after receiving order worth ₹239 Cr for supply of hand grenades for Defence Ministry

Introduction:

Defence stock has secured a ₹239 crore contract from the Ministry of Defence for supplying Multi Mode Hand Grenades over one year. This order strengthens its role in India’s defence sector, enhancing domestic manufacturing capabilities and supporting self-reliance in defence production.

Share Price movement of Solar Industries India:

On March 4, 2025, Solar Industries India Ltd opened at ₹8,879.00, reaching a high of ₹9,113.00, up 1.28% from its previous close of ₹8,977.80, and a low of ₹8,759.70. The stock closed at ₹9,093.15, with a market cap of ₹82,283.96 crore.

Solar Industries India received new order:

Solar Defence and Aerospace Limited, a wholly owned subsidiary of Solar Industries India Limited, has secured a ₹239 crore contract from the Ministry of Defence, Government of India. The contract involves the supply of Multi Mode Hand Grenades, with delivery scheduled over a one-year period.  

The order, classified as a domestic contract, reinforces Solar Defence’s role in India’s defence manufacturing sector. The company will manufacture and supply these defence products, ensuring adherence to stringent quality and safety standards. This milestone strengthens its partnership with the Ministry of Defence.  

The contract does not involve related party transactions, and neither the promoter group nor its affiliates have any interest in the awarded entity. This order highlights Solar Defence’s capabilities in defence production, supporting India’s self-reliance in defence manufacturing.

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Recent news About Solar Industries India:

Solar Industries India has secured a significant order worth ₹1,853 crore from Coal India Limited for the supply of bulk explosives. This contract underscores the company’s strong position in the industrial explosives sector.

Stock performance of Solar Industries India  for Period of 1 week, 6 months and 1 year:

Solar Industries India’s stock gained 1.21% over the past week, reflecting short-term positive momentum. However, over six months, it declined 17.5%, indicating market volatility. Despite this, the stock delivered a 23.2% return over the past year, showcasing long-term strength and resilience in the defence sector.

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Shareholding pattern of Solar Industries India:

All values in %	Dec-24	Sep-24	Jun-24
Promoters	73.15	73.15	73.15
FII	7.23	7.53	7.56
DII	12.78	12.68	12.74
Retail & others	6.82	6.64	6.54

About Solar Industries India :

Solar Industries India is a leading manufacturer of explosives, defence products, and propellants, catering to mining, infrastructure, and defence sectors. With a strong domestic and international presence, it plays a key role in India’s self-reliance in defence and industrial explosives.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.