Solar Industries shares crash nearly 11% after a blast in its factory

Solar Industries share price BSE, Solar Industries Nagpur blast news: Solar Industries shares on Monday, December 18, nosedived nearly 11 per cent to touch the day's low of Rs 6,155.35 on the BSE. The weak sentiment followed after the company said in a statement that nine workers had been killed in a blast that occurred early on Sunday morning at a factory run by Solar Industries India.

Solar Industries shares finished 0.38 per cent or Rs 26.2 lower at Rs 6,852.7 on the BSE.

The company said it was investigating the causes of the accident and what corrective and preventive actions needed to be implemented in its filing.The factory manufactures industrial and military explosives, as well as propellants and warheads for India's defence sector, according to Solar Industries' website.

What does Solar Industries do?

Founded by Satyanarayan Nandlal Nuwal, Solar Group has evolved from a single site manufacturing company in 1995 to a globally recognised Industrial Explosives manufacturer today.
 
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