solar industries shares: Solar Industries shares rally 9.5% after securing Rs 2,039-crore export order for defence products

Solar Industries India jumped as much as 9.5% on Tuesday to Rs 11,549 on BSE after the company, along with its subsidiary, secured export orders worth Rs 2,039 crore for supplying advanced defence products to international clients. The deliveries will be executed over the next four years, the company announced in an exchange filing.

“We are pleased to share that our company, Solar Industries India Limited and its subsidiary have received export orders worth Rs 2039 Crores for Supply of Defence Products, to be delivered over a period of 4 years,” Solar Industries India said in an exchange filing.

Last month, Solar Industries had bagged an international export order worth ₹399.4 crore for defence products, set to be executed over three years.

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As per Trendlyne data, the average target price of the stock is Rs 11,698, which indicates an upside of 11% from the current market prices. The consensus recommendation from 4 analysts for the stock is a ‘Buy’.

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On Tuesday, Solar Industries’ shares closed at Rs 10,542, down 1.34% on the BSE, while the benchmark Sensex surged 0.56%. Its shares have surged 55% in 2024 to date and 158% over the past two years, with the company currently holding a market capitalization of Rs 95,398 crore.

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