Solar Industries descends after muted Q2 outcome

Solar Industries India lost 2.14% to Rs 657.95 at 15:26 IST on BSE after consolidated net profit rose 0.19% to Rs 36.93 crore on 1.59% fall in total income from operations to Rs 350.88 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 23 November 2016.

Meanwhile, the S&P BSE Sensex was up 91.03 points or 0.35% at 26,051.81

On BSE, so far 1,338 shares were traded in the counter as against average daily volume of 16,292 shares in the past one quarter. The stock hit a high of Rs 682.80 and a low of Rs 651.50 so far during the day. The stock had hit a 52-week high of Rs 759.90 on 14 July 2016. The stock had hit a 52-week low of Rs 570 on 29 February 2016. The stock had outperformed the market over the past 30 days till 22 November 2016, rising 3.45% compared with the 7.87% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 6.77% as against Sensex's 7.48% decline.

The mid-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 2.

Solar Industries India manufactures and exports civilian explosives and detonators.

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