Solar Industries surges over 7% on securing order worth Rs 455 crore

Solar Industries surges: Shares of Solar Industries rose as much as 7.42 per cent to hit an intraday high of Rs 8,089.00 on the BSE after the company informed exchanges that it has secured an order from an international client.

Solar Industries has secured a two-year contract for supply of products for use in defence. The export order is worth Rs 455 crore.

"We are pleased to share that our company Solar Industries India Limited have received export orders worth Rs. 455 Cr for supply of products over next 2 years for use in defence products," Solar industries said in a press release.

Solar Industries shares have surged a whopping 145 per cent from 52-week low of Rs 3,456.95 and  high of Rs 8,499. The company has a market capitalisation of Rs 69,690 crore and is involved in manufacturing of explosives.

As of 2:33 pm, Solar Industries shares traded 2.47 per cent higher at Rs 7,715, outperforing the S&P BSE 200 index which was down 0.43 per cent.