Page 3 - Solar Industries

Corporate funding in global solar sector grows 11% to $8.4 bn in Jan-Mar

Corporate funding in the global solar sector increased 11 per cent year-on-year (y-o-y) to USD 8.4 billion in January-March period of 2023, according to a Mercom Capital report. Corporate funding includes venture capital, debt and public market financing. "The investments in the solar sector bucked the trend in Q1 despite tough economic conditions. The Inflation Reduction Act in the US is a significant driver for investments in solar. The fundamentals are solid, driven by strong demand for the energy transition worldwide, especially in Europe and the United States," said Raj Prabhu, CEO of Mercom Capital Group. Total corporate funding into the solar sector in the first quarter of 2023 calender year came to USD 8.4 billion compared to USD 5.4 billion in the fourth quarter of 2022. Funding increased 11 per cent y-o-y compared to USD 7.5 billion raised in Q1 2022, the report said. During January-March 2023, global VC funding was at USD 2.1 billion in 18 deals, 75 per cent higher compa

Solar Industries hits all-time high, rallies 6% on stable outlook

The Atmanirbhar Bharat Abhiyan of the GoI, which is aimed at curtailing import dependence and increasing the sourcing of indigenous defence products, also presents large growth opportunities.

Solar Industries rallies 7% on signing new contract worth of Rs 409 crore

The company has signed a contract worth of Rs 409 crore to supply 1 million pieces of multimode hand grenade to the Ministry of Defence

Solar Industries Q3 net up 14.63% at Rs 47.52 crore

Explosives and explosive accessories manufacturer Solar Industries today reported 14.63 per cent rise in consolidated net profit for the quarter ended December 31 at Rs 47.52 crore on the back of higher sales. The company had reported a net profit of Rs 41.52 crore in the corresponding quarter last fiscal. Its total income for the October-December quarter increased to Rs 463.53 crore from Rs 412.68 crore in Q3FY16, registering a growth of 12.32 per cent. "There was a growth of 12.32 per cent when we compare it on YoY basis. However, on quarter-on-quarter basis the growth is 33 per cent which shows a significant recovery. This growth came in spite of demonetisation and translational losses, which is due to devaluation in foreign currency," company's Managing Director and CEO Manish Nuwal said. He said the company has already taken effective steps to mitigate the losses arising from weakening of currency, and as a result of which, the effect of translational losses will get ...

Solar Industries bags order worth Rs 443 cr from SCCL

Firm plans to start making bulk explosives and cartridges in South Africa, with a total capacity of 30,000 metric tonnes

Solar Industries gains on bagging orders worth Rs 443 crore

The stock was up 5% at Rs 3,250 on the BSE.