Solar Industries Hits All-Time High, Bags Rs 1,853 Crore Order from Coal India

9 Oct 2023 , 12:47 PM

Solar Industries stock hits all-time high, surging 4% to Rs 5,359 per share on BSE. The company secures orders worth Rs 1,853 crore from Coal India for bulk explosives supply. Year-to-date, Solar Industries’ stock has risen by 17%, outperforming the Sensex’s 8% increase. Earlier, the stock reached a 52-week high of Rs 5,200 on October 3, 2023.

Delivery of bulk explosives to Coal India is expected to be completed within 2 years. Solar Industries, based in Nagpur, is a prominent manufacturer and supplier of explosives and accessories in India  Product range includes bulk and cartridge explosives, detonators, detonating cards, and cast boosters, among others.

Besides Coal India, major customers include the Steel Authority of India (SAIL), Hindustan Zinc, and Singareni Collieries Company. Solar Industries also exports its products to countries like Indonesia, Malaysia, Oman, Jordan, Kenya, Nigeria, and more.

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