Solar Industries India share price hits a record high, jumps over 75% YTD; should you buy this defence stock?
Solar Industries India share price climbed 1.5 per cent in intraday trade on the BSE on Tuesday, June 17, to hit its fresh record high of ₹ 17,274.90. The defence stock looked set to extend its winning streak to the fourth consecutive session.
Solar Industries' share price has seen solid gains in the recent past. Considering the defence stock's fresh high, it has surged 76 per cent year-to-date (YTD), while on a monthly scale, it has been in the green since March this year. In June so far, the stock has risen 7 per cent.
(This is a developing story. Please check back for fresh updates.)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Mint
16 minutes ago
- Mint
Jio BlackRock launches Aladdin investment platform for Indian investors
Jio BlackRock, a 50:50 joint venture between Jio Financial Services (JFSL) and BlackRock, on Monday introduced Aladdin, which it described as a unique investment analytics and risk management platform. "Investing should be simple. And it should work for you. That's the belief that brought Jio Financial Services and BlackRock together. We've blended Jio's digital-first approach with BlackRock's global investment expertise to build solutions around what Indian investors truly need," the mutual fund company said in a post on X. For the first time ever, Aladdin—BlackRock's investment analytics and risk management platform—is now available in India, it added. "This is just the beginning. We are here to redefine investing by making it accessible and affordable for you. We are Jio BlackRock Mutual Fund," it said. In late May, Jio BlackRock Mutual Fund received SEBI's approval to commence operations as an investment manager for its mutual fund business in India. On June 11, the company also informed the exchanges that Jio BlackRock Investment Advisers (JBIAPL) had received approval from the Securities and Exchange Board of India (SEBI) to operate as an investment adviser. The company has appointed Amit Bhosale as Chief Risk Officer, Amol Pai as Chief Technology Officer, and Biraja Tripathy as Head of Product, among others. Earlier this year, both partners invested ₹ 66.5 crore ($7.78 million) into the joint venture, bringing their total investment to ₹ 84.5 crore. The joint venture was first announced on July 26, 2023, when Jio Financial Services and BlackRock revealed plans to enter India's asset management industry. India's wealth management and mutual funds is witnessing significant growth, driven by a rising number of demat accounts in recent years. Asset management companies reported impressive performance in the March quarter, reflecting the increasing trend of stock investing, supported by higher disposable income and a growing number of affluent individuals. Projections indicate promising prospects for the wealth management industry, with expectations of a sharp increase in the number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India. Over the past five years, the number of individuals earning over ₹ 1 crore annually has risen by 15%. Forecasts suggest this figure will reach 3.4 lakh over the next five years, contributing to the sector's expansion. Shares of Jio Financial Services have rebounded sharply from their April lows, gaining 36% to trade at ₹ 289 apiece. Jio Financial Services Limited—formerly known as Reliance Strategic Investments Limited, the demerged financial arm of Reliance Industries—entered the stock market on August 21, 2023. It debuted at ₹ 265 per share on the BSE and ₹ 262 per share on the NSE, slightly above its discovered price of ₹ 261.85. The company operates as a non-deposit-taking, non-banking financial company, specializing in retail lending, merchant lending, payments bank operations, payment solutions, and insurance broking. (With inputs from agencies) Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.


Business Standard
an hour ago
- Business Standard
Powering Growth: Rushil Decor plans to Complete Phase 2 of its State-of-the-Art Jumbo Laminate Plant by Q3 FY26
VMPL Ahmedabad (Gujarat) [India], June 17: Rushil Decor Limited (NSE: RUSHIL, BSE: 533470), one of India's leading manufacturers of MDF boards, laminates, and plywood, has announced robust financial results for FY2025 and unveiled ambitious expansion plans to further strengthen its market leadership. The company reported a consolidated revenue of ₹8,979 million, marking a 6.4% year-on-year growth and a Profit After Tax (PAT) of ₹479 million, up 11.1% from the previous year. This performance was driven by strong export momentum, operational efficiency and a growing portfolio of value-added products. "As we step into FY2026, we are targeting consolidated revenues of around ₹11,000 million. The Phase 2 of our Jumbo Laminate manufacturing facility at Gandhinagar will lead to strengthen our product portfolio, enhance its capacity and improve its topline," said Mr. Rushil K. Thakkar, Managing Director. "Our focus remains on innovation, strategic capacity expansion and deepening our presence in both domestic and international markets." Rushil Decor is set to complete Phase 2 of its Jumbo Laminate manufacturing facility in Gandhinagar, Gujarat, by Q3 FY26. This brownfield expansion (phase 1 & 2) will add 2.8 million sheets (if considered as 1 mm sheet of single side decorative Laminate) per annum to its capacity, targeting international markets such as the USA, Europe etc. In the FY 2025-26, this 2.8 million additional capacity is expected to contribute both in terms of top and bottom line positively. Considering the installed capacity of phase 1 & 2 both together, it has a potential of additional annual revenues of around Rs. 300 Crores along with EBIDTA margin of around 11%. The plant represents Rushil Decor's broader strategy to enhance its global footprint and cater to the rising demand for high-quality, value-added laminates. The company has already secured initial export orders for 15% of Phase 1 capacity and is on track to ramp up production in the coming quarters. About Rushil Decor Limited Established in 1993, Rushil Decor Limited is a leader in the Decorative High Pressure Laminates market in India with footprints in over 56 countries. The company manufactures and distributes laminates and MDF panel boards under its flagship brand VIR. Rushil Decor's portfolio consists of an extensive range of decorative laminates for home and commercial use. The company has six state-of-the-art manufacturing facilities with an annual capacity of 3,30,000 CBM MDF and 3.49 million laminates. Rushil Decor is an ISO 9001:2000 certified organisation with a 3 Star Export House status. The company has over 4,600 points-of-sale and over 700 distributors supporting it in the market.


Business Standard
an hour ago
- Business Standard
BIGBLOC subsidiary StarBigBloc gets shareholder approval to launch IPO, subject to regulatory nods and market conditions
PNN New Delhi [India], June 17: StarBigBloc Building Material Ltd, a wholly-owned subsidiary of BigBloc Construction Limited (BSE: 540061), one of India's leading manufacturers of Aerated Autoclaved Concrete (AAC) Blocks, Bricks, and Panels, has received shareholder's approval to raise funds through an Initial Public Offering (IPO). The IPO aims to unlock shareholder value, raise growth capital for expansion, and potentially enhance the overall valuation of BigBloc Construction Ltd. Highlights: * In May 2024 board of directors approved to raise funds through an SME IPO to support expansion plans * Company recently acquired 57,500 sq. mts. land in Madhya Pradesh to establish India's largest greenfield AAC blocks facility * Company aims at increasing its production capacity from 250,000 cubic meters per annum to over 1.2 million cubic meters per annum over the next 4-5 years * For FY25, BigBloc Constructions Ltd reported revenue of Rs. 224.6 crore The proposal was approved at the company's Extraordinary General Meeting (EGM) held on June 13, 2025. The IPO proposal is subject to necessary regulatory approvals, prevailing market conditions, and other applicable clearances. Commenting on the development, Mr. Mohit Saboo, Director and Chief Financial Officer, BigBloc Construction Ltd said, "This is a significant milestone in our growth journey. The IPO will enable StarBigBloc Building Materials Limited to access capital markets, drive next phase of expansion, and solidify its market position across India. This step aligns with our long-term vision to scale efficiently and establish our stronghold in building material sector. The AAC block industry is set to play a pivotal role in India's construction sector, and our company is ready for a significant leap forward." Incorporated in 2015, BIGBLOC Construction Ltd is one of the largest and only listed AAC block manufacturer in India, with a 1.3 million CBM annual capacity across plants in Gujarat (Kheda, Umargaon, Kapadvanj) and Maharashtra (Wada). For FY25, BigBloc Constructions Limited reported Revenue from Operations of Rs. 224.6 crore. StarBigBloc Building Material Ltd currently operates a manufacturing facility in Kheda, near Ahmedabad, with an installed capacity of 250,000 cubic meters per annum. This plant effectively caters to a broad market, covering major parts of Gujarat and extending its reach to Udaipur in Rajasthan and Indore in Madhya Pradesh. In May 2024, the Board of Directors of StarBigBloc Building Material Ltd approved a proposal to raise funds through an SME IPO or Preferential Issue, subject to necessary approvals and prevailing market conditions. The company aims at increasing its production capacity from the current 250,000 cubic meters per annum to over 1.2 million cubic meters per annum over the next 4-5 years. As part of its growth roadmap, the company is targeting revenues of Rs. 428 crore by FY27-28, with a projected EBITDA of Rs. 125 crore and net profit of Rs. 80 crore. Recently, Starbigboc Building Material received all key approvals for its upcoming project in Indore, Madhya Pradesh. These include Town Planning Clearance (TPC), Land Registration, Gram Panchayat approval, and the Non-Agricultural (NA) order for the acquired land. With these clearances in place, the company is set to establish India's largest greenfield AAC Blocks manufacturing facility at the proposed site, marking a major milestone in its expansion strategy and reinforcing its leadership in the sustainable building materials space. Earlier in Feb 2025, company acquired approx. 57,500 sq. mts. land at Khasra No. 382, 387, 389/2, Gram Nimrani, Tehsil Kasrawad, District - Khargone, Madhya Pradesh for the purpose of AAC Blocks business expansion in central India. This strategic land acquisition was aimed at expanding AAC Blocks business to better serve the growing demand across central India. About Bigbloc Construction: Incorporated in 2015, BIGBLOC Construction Ltd is one of the largest and only listed AAC block manufacturer in India, with a 1.3 million CBM annual capacity across plants in Gujarat (Kheda, Umargaon, Kapadvanj) and Maharashtra (Wada). The company, which markets its products under the 'NXTBLOC' brand, is one of the few in the AAC industry to generate carbon credits. With over 2,000 completed projects and 1,500+ in the pipeline, The company's clients include Lodha, Adani Realty, IndiaBulls Real Estate, DB Realty, Prestige, Piramal, Oberoi Realty, Tata Projects, Shirke Group, Shapoorji Pallonji Group, Raheja, PSP Projects, L & T, Sunteck, Dosti Group, Purvankara Ltd, DY Patil, Taj Hotels, Godrej Properties, Torrent Pharma, GAIL among others. For more details, please visit: Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in stocks includes financial risks, and past performance is not indicative of future results. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.