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Defence stock jumps 3% after signing MoUs worth ₹12,700 Cr for expansion of drones, UAVs and other defence product

Defence stock's subsidiary partnered with Maharashtra for a ₹12,700 crore defence project in Nagpur, focusing on drones, explosives, and aircraft, boosting India’s defence capabilities and strategic advancements.
Defence stock's subsidiary partnered with Maharashtra for ₹12,700 crore Nagpur defence project.
Defence stock's subsidiary partnered with Maharashtra for ₹12,700 crore Nagpur defence project.

Introduction:

Defence stock’s subsidiary signed an MoU with the Maharashtra government to establish a ₹12,700 crore Anchor Mega Defence and Aerospace Project in Nagpur, focusing on drones, explosives, and military aircraft to enhance India’s defence capabilities.

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Share Price movement of Solar Industries India:

On January 23, 2025, Solar Industries India Ltd opened at ₹9,260.50 and closed at ₹9,594.90, up 3.16% from the previous close of ₹9,300.55. The stock hit an intraday high of ₹9,629.20 and a low of ₹9,242.70, with a market cap of ₹86,824.30 crore.

Solar Industries India signed new MoU:

Solar Industries India Ltd announced that its wholly-owned subsidiary, Economic Explosives Limited (EEL), signed an MoU with the Maharashtra government on January 22, 2025, in Davos, to establish an Anchor Mega Defence and Aerospace Project in Nagpur.

The project, with an investment of ₹12,700 crore, will expand defence products like drones, UAVs, counter-drone systems, energetic materials, and next-generation explosives, alongside introducing military transport aircraft to enhance India’s defence capabilities.

The Maharashtra government will support EEL by providing necessary permissions, approvals, and fiscal incentives, ensuring smooth execution of the project under state policies, reflecting Solar Industries’ commitment to advancing India’s defence and aerospace sectors.

Also Read: Stocks To Watch For Budget 2025

Recent news About Solar Industries India :

On December 3, 2024, Solar Industries India Ltd secured a ₹2,039 crore export order for defence products, to be delivered over four years, boosting its global defence presence. The stock closed at ₹10,574, down 1.04%.

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

Solar Industries India’s stock declined by 3.47% over the past week and dropped 15.2% in the last six months. However, it recorded a strong 40.4% gain over the past year, showcasing mixed performance across different timeframes.

Also Read: Best Sectors To Watch For Budget 2025

Shareholding pattern of Solar Industries India:

All values in %Dec-24Sep-24Jun-24
Promoters73.1573.1573.15
FII7.237.537.56
DII12.7812.6812.74
Retail & others6.826.646.54
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About Solar Industries India:

Solar Industries India Ltd (NSE: SOLARINDS) is a leading manufacturer of industrial explosives, defence products, and specialized chemicals. Serving mining, infrastructure, and defence sectors, the company focuses on innovation, safety, and global expansion, contributing significantly to India’s strategic industries.
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.

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