from 19,621 today
We initiate coverage on Indian Defence Sector with a Buy rating on Solar Industries and a target price of Rs 23,543.
Solar Industries India delivered a blockbuster start to FY27 with a broad-based outperformance across defence, international, and domestic explosives segments, leading to raised EPS estimates and a higher target price.
We remain positive on Solar Industries given its leadership position in industrial explsoives, backward integration, geographical diversification, and rising demand for high energy materials. We maintain our BUY rating and revise our target price to INR 21,408.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
