The first trading day of the week saw profit booking in the stock market on Monday. Some stocks have rocketed amid this profit booking. A similar surge was seen in the shares of Solar Industries. The stock rose more than 6 percent during trading.
In fact, Solar Industries announced that it has received orders worth around ₹455 crore for supply of defense products. “We are pleased to announce that our company Solar Industries India Limited has received export orders worth ₹455 crore for supply of products for use in defense products over the next 2 years,” the company said in an exchange filing.
Shares of Solar Industries rose 6.5% to ₹8,089 during trading on the NSE on Monday. The stock has gained 15% year-on-year and has returned 105% in the last one year. Let us tell you that Solar Industries works for mining and infra. The company manufactures industrial explosives and defense products.
Talking about the stock market conditions, the two-day rally in the domestic bourses came to a halt on Monday due to heavy selling in metal and bank stocks and both the major indices saw a sharp decline.
BSE’s 30-share index Sensex closed down 616.75 points, or 0.83 percent, at 73,502.64 on profit booking. It slipped to 685.48 points at one point during the trading. (Note: The information provided here is for your information only. Any investment should be done after consulting experts)
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