At close, the Sensex was down 511.38 points at 81,896.79. Meanwhile, the Nifty was down 140.50 points to close at 24,971.90.
The recent escalation between Israel and Iran, now involving the United States, has sparked heightened investor focus on Indian defence manufacturers.
Valued at a little over ₹296 crore, the new assignment is a consultancy contract tied to redevelopment work across parts of Meerut, Uttar Pradesh.
As of 2:30 PM on Monday, Solar Industries shares were trading 0.42% higher at ₹17,067 apiece.
The company plans to execute the contract within a period of 29 months from the date of award.
With US participating in bombing Iranian nuclear facilities, the chances of Iran shutting Hormuz Straits is high
Forex reserves increase further; Will Credit Growth see greenshoots?
The order is expected to be fulfilled within 12 months, offering a much-needed boost to the drone maker, which has been under pressure due to weak financial performance in recent quarters.
The development includes expansive green spaces, sunlit terraces, and a 1.5 lakh sq. ft. clubhouse designed to accommodate wellness, leisure, work, and social activities under one roof.
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