Introduction:
Indian solar company has secured export orders worth ₹2039 Crores for supplying defence products to international clients. The orders, to be executed over four years, enhance the company’s position in the global defence sector, opening long-term growth opportunities.
Also Read: Auto ancillary stock jumps 3% after it acquires TVS motor’s subsidiary company for ₹215.3 Cr
Share price movement of Solar:
On December 3, 2024, Solar Industries opened at ₹11,539.90, up 9.44% from its previous close of ₹10,542.40. The stock reached a high of ₹11,549.00 (1.38%) and a low of ₹10,610.85. By 12:22 PM, it traded at ₹10,688.10, a 1.38% increase, with a market cap of ₹96,716.68 crore.
Solar Industries secures defence order:
Solar Industries India Limited has received export orders worth ₹2039 Crores for the supply of defence products. These orders, awarded by international clients, are set to be executed over the next four years, strengthening the company’s position in the global market.
The supply of defence products for international clients will be completed within a 4-year period. This order opens new avenues for Solar Industries, boosting its international business and expanding its footprint in the defence sector, with considerable long-term potential.
The company clarified that neither the promoters nor the group companies have any interest in the awarding entity. This ensures transparency and confirms that the deal adheres to arm’s length principles, reinforcing business integrity.
Recent news on Solar:
As of 06 Nov 2024, Solar Industries India Limited secured an ₹887 crore order from Singareni Collieries for SME explosives and initiating systems. The order strengthens growth prospects, contributing to a total backlog of ₹4400 crore, including defence contracts.
Stock performance of Solar for Period of 1 week, 6 months and 1 year:
Solar Industries has shown strong performance with a 3.00% return over the past week, 15.4% over six months, and an impressive 74.7% return over the last year. These figures highlight sustained growth and an optimistic outlook for the company’s future performance.
Also Read: Maharatna PSU stock jumps after it signs MoU with BPCL for synthetic natural gas project
Shareholding pattern of Solar:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 73.20% | 73.20% | 73.20% |
| FII | 7.50% | 7.60% | 6.10% |
| DII | 12.70% | 12.70% | 14.50% |
| Public | 6.60% | 6.50% | 6.20% |
About Solar:
Solar Industries (NSE: SOLARINDS) is a leading manufacturer of bulk explosives, detonators, and components for the mining, infrastructure, and construction industries. The company also produces ammunition, high-energy explosives, and pyros fuses for the defence sector.
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.
