Solar Industries gains after decent Q1 earnings

Solar Industries India rose 1.09% to Rs 648 at 13:01 IST on BSE after consolidated net profit rose 13.1% to Rs 47.11 crore on 10.6% rise in net sales to Rs 423.75 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 80.73 points or 0.28% at 29,007.09.

On BSE, so far 3,957 shares were traded in the counter as against average daily volume of 8,907 shares in the past one quarter. The stock hit a high of Rs 669.95 and a low of Rs 639.15 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 underperformed the market over the past one month till 7 September 2016, advancing 1.09% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 3.43% as against Sensex's 7.1% rise.

 

The large-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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