Solar Industries India Ltd

Solar Industries India has signed a contract worth Rs 239 crore with Ministry of Defence, Government of India for Supply of Multi Mode Hand Grenade, to be delivered over a period of 1 year.Powered by Capital Market - Live

The project involves the supply of multi-mode handgrenades for the Ministry of Defence, to be completed within 1 year. Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives, and initiating systems, which find application in the mining, infrastructure, and construction industries. The Group forayed into the defence sector in 2010 and diversified into the manufacturing of propellants for missiles and rockets, warheads, and warhead explosives. The company's consolidated net profit rose 54.86% to Rs 314.87 crore on a 38.06% increase in sales to Rs 1,973.08 crore in Q3 FY25 as compared with Q3 FY24. Shares of Solar Industries India rose 0.30% to Rs 8,999 on the BSE.Powered by Capital Market - Live

Solar Industries India and its subsidiary have received export orders worth Rs 2150 crore for supply of defence products, to be delivered over a period of 6 years.Powered by Capital Market - Live

The entire contract is to be executed over a period of six years. Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives, and initiating systems, which find application in the mining, infrastructure, and construction industries. The Group forayed into the defence sector in 2010 and diversified into the manufacturing of propellants for missiles and rockets, warheads, and warhead explosives. The company's consolidated net profit rose 54.86% to Rs 314.87 crore on a 38.06% increase in sales to Rs 1,973.08 crore in Q3 FY25 as compared with Q3 FY24. The scrip fell 1.71% to currently trade at Rs 8572.35 on the BSE Powered by Capital Market - Live

Net profit of Solar Industries India rose 54.86% to Rs 314.87 crore in the quarter ended December 2024 as against Rs 203.33 crore during the previous quarter ended December 2023. Sales rose 38.06% to Rs 1973.08 crore in the quarter ended December 2024 as against Rs 1429.14 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1973.081429.14 38 OPM %26.6924.83 - PBDT506.53337.53 50 PBT459.11298.93 54 NP314.87203.33 55 Powered by Capital Market - Live

Solar Industries India will hold a meeting of the Board of Directors of the Company on 5 February 2025.Powered by Capital Market - Live

Solar Industries India has issued commercial paper of Rs 75 crore on 12 December 2024 with maturity date of 12 March 2024. Powered by Capital Market - Live

HDFC Asset Management Company Ltd, Tata Elxsi Ltd, Vardhman Textiles Ltd, HEG Ltd are among the other stocks to see a surge in volumes on BSE today, 03 December 2024.Solar Industries India Ltd notched up volume of 19560 shares by 10:47 IST on BSE, a 11.15 fold spurt over two-week average daily volume of 1754 shares. The stock rose 1.06% to Rs.10,653.90. Volumes stood at 2579 shares in the last session.HDFC Asset Management Company Ltd saw volume of 61190 shares by 10:47 IST on BSE, a 7.23 fold spurt over two-week average daily volume of 8463 shares. The stock increased 0.52% to Rs.4,272.15. Volumes stood at 6982 shares in the last session.Tata Elxsi Ltd witnessed volume of 31502 shares by 10:47 IST on BSE, a 6.09 times surge over two-week average daily volume of 5176 shares. The stock increased 6.25% to Rs.7,135.00. Volumes stood at 2977 shares in the last session.Vardhman Textiles Ltd witnessed volume of 45437 shares by 10:47 IST on BSE, a 5.06 times surge over two-week average daily volume of 8988 shares. The stock increased 2.93% to Rs.512.40. Volumes stood at 30334 shares in the last session.HEG Ltd saw volume of 76691 shares by 10:47 IST on BSE, a 3.76 fold spurt over two-week average daily volume of 20423 shares. The stock increased 10.33% to Rs.483.45. Volumes stood at 9657 shares in the last session.Powered by Capital Market - Live

The order is to be delivered over a period of 4 years to an international entity. Solar Industries India (SIIL) is the flagship company of the Solar Group. SIIL, along with its subsidiaries, manufactures bulk explosives, packaged explosives, and initiating systems, which find application in the mining, infrastructure, and construction industries. The Group forayed into the defence sector in 2010 and diversified into the manufacturing of propellants for missiles and rockets, warheads, and warhead explosives. The company's consolidated net profit jumped 42.8% to Rs 285.88 crore on a 27.3% rise in net sales to Rs 1,715.83 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live

The domestic equity benchmarks traded near flat line in early trade. The Nifty traded above the 24,250 mark. Media, PSU bank and metal shares advanced while FMCG, IT and pharma stocks declined. At 09:29 IST, the barometer index, the S&P BSE Sensex rose 12.08 points or 0.01% to 80,261.38. The Nifty 50 index added 9.75 points or 0.04% to 24,285.80. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.55% and the S&P BSE Small-Cap index rallied 0.79%. The market breadth was strong. On the BSE, 2,263 shares rose and 667 shares fell. A total of 114 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 238.28 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,588.66 crore in the Indian equity market on 2 December 2024, provisional data showed. Stocks in Spotlight: Solar Industries India jumped 6.73% after the company and its subsidiary has received export orders worth Rs 2,039 crore for supply of defence products, to be delivered over a period of 4 years. Godavari Biorefineries added 1.30% after the company secured license agreement with Catalyxx Inc for the conversion of ethanol to for up to 30,000 tons of biobutanol and other higher alcohols in India. The company will set up a 15000 tonne facility in the first phase. KPI Green Energy advanced 2.28% after the company has received order for setting up of 300 MWAC ground mounted solar PV Plant, including operation and maintenance services on a comprehensive basis for a period of five years from Coal India. The said project is worth Rs 1,311 crore. Numbers to Track: The yield on India's 10-year benchmark federal paper was up 0.17% to 6.832 as compared with previous close 6.820. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.7450, compared with its close of 84.7250 during the previous trading session. MCX Gold futures for 5 February 2024 settlement was flat to Rs 76,079. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.05% to 106.50. The United States 10-year bond yield rose 0.12% to 4.198. In the commodities market, Brent crude for January 2024 settlement gained 06 cents or 0.08% to $71.89 a barrel. Global Markets: Asian stocks advanced on Tuesday, buoyed by positive sentiment from the US stock market. Investors are gearing up for a flurry of economic data and commentary from Federal Reserve officials, which will shape expectations for future interest rate decisions. The US dollar rebounded from a three-day decline following a stern warning from the incoming administration to BRICS nations. In the US, the S&P 500 extended its record-breaking streak, climbing 0.24%. The Nasdaq 100 gained 1%, while Tesla shares retreated in after-hours trading after a Delaware judge rejected a generous compensation package for CEO Elon Musk. The Dow Jones Industrial Average dipped 0.29%. Tesla shares surged over 3%, building on recent gains. This followed Roth MTM's upgrade to buy from neutral, which cited the potential benefits of the EV maker's CEO's close ties with the incoming administration.Powered by Capital Market - Live