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Last Updated : Nov 02, 2017 02:00 PM IST | Source: Moneycontrol.com

Solar Industries gains 6% on order win worth Rs 1,143 crore

The company has bagged the running contract for supply of 375412MT bulk explosives to the subsidiaries of the Coal India.

Shares of Solar Industries India rose 6 percent intraday Thursday as it has bagged order worth Rs 1,143.63 crore from Coal India for supply of bulk explosives.

The company has bagged the running contract for supply of 375412MT bulk explosives to the subsidiaries of the Coal India.

The running contract is valid for 2 year from November 1, 2017 to October 31, 2019.

Close

The said order has been awarded to domestic entity, Solar Industries along with its subsidiary.

Coal India has right to extend/ close the contract, and also to increase/decrease the ordered/allocated quantity to the extent of 40 percent.

The RC price for bulk explosives will be revised on quarterly basis based on the price valuation formulae which includes price of AN, HSD, AICPU for industrial workers.

The RC holder will have to submit security deposit bank guarantee for 10 percent of the average value of both the years.

At 10:59 hrs Solar Industries India was quoting at Rs 1,075.40, up Rs 42.05, or 4.07 percent on the BSE.

Posted by Rakesh Patil

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First Published on Nov 2, 2017 11:04 am
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