ADVERTISEMENT
Solar Industries' Shares Can Rally 55% Says ICICI Securities, Maintaining 'Buy' — Here's Why
Stocks to Buy: ICICI Securities says growth is likely to be driven by high-margin segments, and Solar Industries could go further up in value chain to platforms from materials.
25 Feb 2025, 07:40 AM IST 
Solar Industries' capex over the next five years is likely to be Rs 130-150 billion in both defence and non-defence domains.
(Photo source: Solar Industries Website)
Based on its current orderbook, initiatives being taken by Solar Industries and potential in the ecosystem, the brokerage reckons, defence revenue could grow over four times from FY25 level over the next five years. Retains Buy with an unchanged target price of Rs 13,720 on 60 times FY27E earnings per share.
