Multibagger defence stock in news today on Rs 2,039-crore order win 

Shares of Solar Industries India Ltd are in news today  after the company, along with its subsidiary, secured export orders worth Rs 2,039 crore for the supply of defence products to international clients. The defence stock delivered multibagger returns of 276.59% and 887.90% in three and five years, respectively. It hit a record high of Rs 13,300 on July 11 this year.

Meanwhile, the stock closed 1.34% lower at Rs 10,542.40 on Monday against the previous close of Rs 10,685.05 on BSE.

Market cap of the firm stood at Rs 95,398 crore. Total 2579 shares of the firm changed hands amounting to a turnover of Rs 2.76 crore on BSE. The stock had a beta of 1.1 in the last one year, indicating average volatility during the period.

In terms of technicals, the relative strength index (RSI) of Solar Industries India stands at 53.3, signaling the stock is trading neither in the overbought nor in the oversold zone. Solar Industries India shares are trading lower than the 50 day, 100 day but higher than the 5 day, 10 day, 20 day, 150 day and 200 day moving averages.

"We are pleased to share that our company, Solar Industries India Limited and its subsidiary have received export orders worth Rs 2039 Crores for Supply of Defence Products, to be delivered over a period of 4 years," Solar Industries India said.

The orders are for the supply of advanced defence products, to be delivered over the next four years.

About Solar Industries India     

Solar Industries is an India-based manufacturer of industrial explosives for the mining and infrastructure sector. The company offers industrial explosives and defence products.