Solar Industries Share Price 

The share price of India's leading explosive manufacturing company, Solar Industries India Ltd. was up by almost 5.31%. In last month, the share price of Solar Industries increased by almost 40%. we will tell you the reasons behind the sharp rally behind Solar Industries' share price.

The first reason is that recently Solar Industries got a contract of bulk supply from Coal India. The contract’s value is 1471 crores. According to which Solar Industries will supply bulk explosives in 2 year period. In June 2021, the company got multiple orders from Coal India which was approximately 365 crores of value.

Also, as per experts, Solar Industries is a unique compact that has strong pricing power. China's energy crisis, Coal India's target to achieve 1 billion metric tonnes by 2024, and India's uptick in metal and mining space. These can be the reasons which can fuel bulk explosives' demand. In such a case, Solar Industries can be the prime beneficiary.

Also, the company recently entered the high-margin defense sector. In terms of quarter 1 results of the financial year 2021-22, the company's sales are up by 68.02% in a year. Its net profit increased by 131.62%. So this was a small update on Solar Industries.

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