Solar Industries India down after explosion in factory

Solar Industries India

18/12/2023 04:46

** Shares of explosives maker Solar Industries India
 SLIN.NS  down ~4% after explosion at one of its factories
    ** Co says nine workers died in an explosion on Dec. 17 at
its pallet casting house
    ** Adds investigation into cause ongoing; financial impact
limited only to the building
    ** Nearly 242,000 shares change hands, 1.3x the 30-day avg
    ** Avg rating of six analysts is "buy" - LSEG data
    ** However, their median PT of 5,920 rupees is ~10% below
its current market price of 6,609 rupees
    ** Stock last down 3.9%, cutting YTD gains to 50.1%


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))