Solar Industries shares crash 9% after acquisition of South Africa’s Omnia Holdings for Rs 12,951 crore

Solar Industries shares fell sharply on Tuesday after the company announced the Rs 12,951 crore acquisition of South Africa’s Omnia Holdings in an all-cash deal. The transaction, subject to regulatory and shareholder approvals, is expected to strengthen Solar’s global explosives and blasting business while expanding its presence across Africa and other international markets.