Solar Industries net profit rises in Q2

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Solar Industries India lost 1.74 per cent to Rs 738.40 at 12:00 IST on BSE after the stock turned ex-dividend on 22 November 2011, for interim dividend of Rs 5 per share for the year ending March 2012.

Meanwhile, the BSE Sensex was up 110.09 points, or 0.69 per cent to 16,056.19. On BSE, 1,236 shares were traded in the counter as against average daily volume of 2,166 shares in the past one quarter.

The stock hit a high of Rs 769.65 and a low of Rs 735.05 so far during the day. The stock had hit a record high of Rs 839.95 on 14 November 2011. The stock had hit a 52-week low of Rs 517 on 3 February 2011.

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The mid-cap stock had underperformed the market over the past one month till 21 November 2011, declining 5.33 per cent compared with the Sensex’s 5 per cent fall. The scrip had, however, outperformed the market in past one quarter, gaining 2.92 per cent as against 1.21 per cent decline in the Sensex.

On a consolidated basis, Solar Industries India’s net profit rose 20.1 per cent to Rs 20.54 crore on 37.5 per cent growth in net sales to Rs 206.87 crore in Q2 September 2011 over Q2 September 2010.

Solar Industries India manufactures and supplies explosives and explosives accessories.

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