Solar Industries and MIL Secure Rs 100 Billion Pinaka Rocket Order

31 Jan 2025 CW Team

Solar Industries, a leading explosives and ammunition manufacturer, along with Munitions India Limited (MIL), a defense PSU, are set to produce Pinaka rocket systems under a major Rs 100 billion procurement deal. The deal is expected to receive Cabinet Committee on Security (CCS) approval soon. The project, which is expected to enhance the Indian Army's artillery capabilities, especially in high-altitude regions along the northern borders, will be divided between Solar Industries and MIL. The order includes Rs 57 billion for high-explosive ammunition and Rs 45 billion for area denial munitions. Shares of Solar Industries rose by over 5% on January 30, following the news of the anticipated contract approval. This deal supports the government's push for self-reliance in defense manufacturing, reducing dependence on imported weapon systems.

(Moneycontrol)

Infrastructure Energy

16 Jul 2025

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