Solar Industries has gained today after two days of consecutive falls and right since the opening bell, is among the top five gainers on the BSE. The stock opened with a gain of over 5% and went up 8.5% to hit an intraday high at Rs.1160.
The market is happy with the news that it has received orders from Singareni Collieries Company (SCCL) for supply of explosives and initiating systems worth Rs 447 crore.
This is to be delivered over a period of two years.
Prior to this, on 1st Oct, the company signed contracts worth of Rs 409 crore for supply of 10 lakh pieces of multimode hand grenade to the Ministry of Defence. This contracted quantity is also to be delivered over a period of two years.