India's Solar Industries rises on $26 mln contract with ministry of defence

Solar Industries India

21/04/2023 10:59

** Shares of Solar Industries  SLIN.NS  rise as much as
2.19% to 3,839.95 rupees
    ** Co signs a contract for supply of "loitering munition"
with Ministry of Defence
    ** Contract value is 2.12 bln rupees ($25.8 million), and
the delivery is pegged at 1 year
    ** Trading volume is ~27,000 shares as of 3:21 p.m. IST,
0.6x the 30-day avg
    ** Average rating of analysts at equivalent of 'buy' with
median PT of 4,277 rupees - Refinitiv data

($1 = 82.0950 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))