Solar Industries believes the consumption in explosives will go up in the next 3-6 months, as the economy gathers momentum. Solar Industries is the largest manufacturer of industrial explosives.
"When people believe we are at the turning point it is because whenever there will be a sign in the economic recovery at any stage be it mining, be it infrastructure, be it housing, the first that will be required is housing because be it coal, be it limestone or be it iron ore or be it the quarrying stones for road and construction everything requires explosives," Nilesh Panpaliya, chief financial officer, Solar Industries said.
"So probably the consumption in explosives, increased consumption in explosives is the first sign of economic recovery and which we all believe will happen maybe 3-6 months from here," he added.
This year will be a "turning point" for Solar Industries, domestic brokerage Motilal Oswal has said. The brokerage has initiated a buy call on Solar Industries for target of Rs 4,100 per share.
"We believe FY16 will be the turning point (with growth rates of 13.8 per cent), given intense efforts to improve coal availability through (i) auction / transfer of de-allocated mines,(ii) attempts by Coal India to double production to 1 billion tonnes.
"We expect SOIL (Solar Industries Ltd) to witness volume CAGR (compounded annual growth rate) of 17 per cent during FY15-17, with possibilities of more meaningful ramp-up going forward," Motilal Oswal said.
At 2:30 pm, the Solar Industries stock was trading over 3 per cent higher at Rs 3616.90, outperforming the broader Nifty and the Sensex.
Solar Industries believes the consumption in explosives will go up in the next 3-6 months, as the economy gathers momentum. Solar Industries is the largest manufacturer of industrial explosives.
"When people believe we are at the turning point it is because whenever there will be a sign in the economic recovery at any stage be it mining, be it infrastructure, be it housing, the first that will be required is housing because be it coal, be it limestone or be it iron ore or be it the quarrying stones for road and construction everything requires explosives," Nilesh Panpaliya, chief financial officer, Solar Industries said.
"So probably the consumption in explosives, increased consumption in explosives is the first sign of economic recovery and which we all believe will happen maybe 3-6 months from here," he added.
This year will be a "turning point" for Solar Industries, domestic brokerage Motilal Oswal has said. The brokerage has initiated a buy call on Solar Industries for target of Rs 4,100 per share.
"We believe FY16 will be the turning point (with growth rates of 13.8 per cent), given intense efforts to improve coal availability through (i) auction / transfer of de-allocated mines,(ii) attempts by Coal India to double production to 1 billion tonnes.
"We expect SOIL (Solar Industries Ltd) to witness volume CAGR (compounded annual growth rate) of 17 per cent during FY15-17, with possibilities of more meaningful ramp-up going forward," Motilal Oswal said.
At 2:30 pm, the Solar Industries stock was trading over 3 per cent higher at Rs 3616.90, outperforming the broader Nifty and the Sensex.
Solar Industries believes the consumption in explosives will go up in the next 3-6 months, as the economy gathers momentum. Solar Industries is the largest manufacturer of industrial explosives.
"When people believe we are at the turning point it is because whenever there will be a sign in the economic recovery at any stage be it mining, be it infrastructure, be it housing, the first that will be required is housing because be it coal, be it limestone or be it iron ore or be it the quarrying stones for road and construction everything requires explosives," Nilesh Panpaliya, chief financial officer, Solar Industries said.
"So probably the consumption in explosives, increased consumption in explosives is the first sign of economic recovery and which we all believe will happen maybe 3-6 months from here," he added.
This year will be a "turning point" for Solar Industries, domestic brokerage Motilal Oswal has said. The brokerage has initiated a buy call on Solar Industries for target of Rs 4,100 per share.
"We believe FY16 will be the turning point (with growth rates of 13.8 per cent), given intense efforts to improve coal availability through (i) auction / transfer of de-allocated mines,(ii) attempts by Coal India to double production to 1 billion tonnes.
"We expect SOIL (Solar Industries Ltd) to witness volume CAGR (compounded annual growth rate) of 17 per cent during FY15-17, with possibilities of more meaningful ramp-up going forward," Motilal Oswal said.
At 2:30 pm, the Solar Industries stock was trading over 3 per cent higher at Rs 3616.90, outperforming the broader Nifty and the Sensex.
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