January 8, 2024
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Solar Industries wins Rs 994 crore export orders for defence application
Solar Industries announced on Monday that it has received export orders worth Rs.994 crore to supply products for a defence-based application.
The company said the same would be delivered over three years. In a stock exchange filing, the firm said the order was from an international client.
Solar Industries was established by Satyanarayan Nuwal in 1995, with trade-in industrial explosives, before engaging in the manufacturing segment. Initially, the company supplied explosives to public-owned coal mines.
In October, the company had bagged its biggest-ever order worth Rs.1,853 crore from state-owned Coal India for the supply of bulk explosives. The mentioned order is to be executed over two years.
On another note, last month, a blast had occurred at the company’s explosives manufacturing factory in Bazargaon village, Nagpur, killing nine people and injuring seven others.
The Solar Industries stock is in the green today, January 8, after a day’s lapse. It has gained for three of the last five trade sessions. The company’s shares were trading nearly 1% higher at ?6,770 apiece around 1.45pm on January 8.
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