Solar Industries gains after board okays stock split

Solar Industries India rose 3.15% to Rs 3,420 at 9:41 IST on BSE after the company said that its board of directors approved 5-for-1 stock split.

The announcement was made after market hours yesterday, 16 May 2016.

Meanwhile, the BSE Sensex was up 140.63 points, or 0.55%, to 25,793.86.

On BSE, so far 63 shares were traded in the counter, compared with an average volume of 371 shares in the past one quarter. The stock hit a high of Rs 3,424.90 and a low of Rs 3,390 so far during the day. The stock hit a record high of Rs 4,324 on 16 July 2015. The stock hit a 52-week low of Rs 2,850 on 29 February 2016. The stock had outperformed the market over the past one month till 16 May 2016, falling 4.07% compared with 0.10% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.93% as against Sensex's 10.61% rise.

The mid-cap company has an equity capital of Rs 18.10 crore. Face value per share is Rs 10.

Solar Industries India's consolidated net profit rose 20.24% to Rs 48.21 crore on 10.83% rise in net sales to Rs 428.84 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 16 May 2016.

Solar Industries India is the largest manufacturer and exporter of civilian explosives, detonators, detonating cord and pentolite booster.

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