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Solar Industries shares in focus: Shares of Solar Industries India (SIIL) hit a new high of Rs 11,186.20, as they rallied 11 per cent on the BSE in Tuesday’s intra-day trade on healthy business outlook.
The stock of the explosive company has recovered 42 per cent from its previous month low of Rs 7,889.95 touched on June 4. In past one year, the scrip has zoomed 200 per cent from the level of Rs 3,738.
The stock of the explosive company has recovered 42 per cent from its previous month low of Rs 7,889.95 touched on June 4. In past one year, the scrip has zoomed 200 per cent from the level of Rs 3,738.
A sharp rally in stock price of SIIL has seen the market capitalisation of the company crossing Rs 1 trillion in intra-day trade today. With Rs 99,391 crore market cap, SIIL was trading 9 per cent higher at Rs 10,983.65 at 10:44 AM. In comparison, the BSE Sensex was up 0.01 per cent at 79,480.
SIIL is engaged in the manufacturing of complete range of industrial explosives, explosive initiating devices and high energy materials for defence applications.
Founded in 1995 in Nagpur, India, Solar Group has swiftly ascended to global leadership in industrial explosives and defense solutions. The company looks forward to expanding into advanced markets of ammunitions and the space sector, forging a bold, futuristic path towards continued global leadership in Explosives and defence industries.
With operations spanning across more than 80 countries and advanced manufacturing facilities in 10 nations, the group champions a diverse portfolio encompassing industrial explosives, detonators, propellants, and cutting-edge defense technologies.
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SIIL in its financial year 2023-24 (FY24) annual report said that the global industrial explosives market is set for remarkable growth, propelled by escalating demand for raw materials from the mining and construction sectors. Technological progress, such as digitalisation for blast optimisation and the development of safer and ecofriendly explosives, is making these products increasingly appealing.
The India’s explosives sector is experiencing significant expansion, forecasts indicate a steady rise in demand, with the industry expected to reach a value of $1.5 billion by FY 2028.
The mining, quarrying, construction and infrastructure sectors serve as the key growth enablers for this industry. With the government planning to invest in Make in India campaigns, smart cities, rural electrification and many more, this sector is in a sweet spot to witness growth in the near term.
The mining, quarrying, construction and infrastructure sectors serve as the key growth enablers for this industry. With the government planning to invest in Make in India campaigns, smart cities, rural electrification and many more, this sector is in a sweet spot to witness growth in the near term.
“The prospects for the housing and infrastructure sector, appears promising. Fuelled by the government’s steadfast focus on infrastructure development and the consequent surge in urban housing demand, the industry is poised for considerable growth. This, coupled with the cost advantage provided by our lower explosive prices, positions us in a sweet spot to capitalise on the burgeoning demand within the domestic construction and infrastructure segment,” the management said in FY24 annual report.
Additionally, Group’s strategic expansion into new international markets, including Kazakhstan and Saudi Arabia, is expected to bolster the performance of its international subsidiaries, fortifying Group’s position as a leading player in the global explosives sector.
Furthermore, the booming Mining and Defence sectors are likely to catalyse the company’s growth in the upcoming years, the management said.
Furthermore, the booming Mining and Defence sectors are likely to catalyse the company’s growth in the upcoming years, the management said.
