Solar Industries India and its auxiliary organization Economic Explosives Ltd have gotten an order from the government-owned coal mining organization, Singareni Collieries.
The said request is for the item explosive and initiating systems. The request is worth Rs 447 crore and is relied upon to be conveyed over a time of two years.
Responding to this, the share price of Solar Industries India bounced more than 8.55 per cent on Friday and made an intraday high of Rs 1,160 on the BSE.
Solar Industries India fabricates explosive items, which are utilized across infrastructure, defence, and mining divisions.
The organization announced a huge merged net benefit of Rs 43.97 crore in the first quarter of FY21, which declined by 40.44 per cent YoY when contrasted with the first quarter of FY20 when it revealed a benefit of Rs 73.83 crore.
The stock has a 52-week high and 52-week low of Rs 1,350 and Rs 772.05 respectively.
At 1.06 pm IST on Friday, the stock of Solar Industries India was exchanging at Rs 1,100 on the Bombay Stock Exchange, up by 2.93 per cent.
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