Solar Industries India and its subsidiary Economic Explosives have received orders from Singareni Collieries Company (SCCL) for supply of explosives and initiating systems worth Rs 447 crore, to be delivered over a period of two years.
The announcement was made after market hours yesterday, 8 October 2020. Shares of Solar Industries India shed 0.8% to settle at Rs 1,068.65 yesterday.
The stock hit a 52-week high of Rs 1,350 on 01 February 2020. The stock hit a 52-week low of Rs 772.05 on 23 March 2020.
Solar Industries India manufactures and exports civilian explosives and detonators. Its consolidated net profit fell 40.4% to Rs 43.97 crore on a 20.8% decline in net sales to Rs 491.14 crore in Q1 June 2020 over Q1 June 2019.
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