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Multibagger Stock: Goldman Sachs has given ‘buy’ rating on Solar Industries and fixed its target price at ₹ 18,215. The brokerage says this development further strengthens its confidence in the growing total potential market (TAM) for domestic defense companies.
New Delhi. The Defense Acquisition Council (DAC) had approved defense deals worth Rs 79,000 crore last week. After this decision of the government, defense stocks are expected to rise. Global brokerage firm Goleman Sachs has also expected the shares of Solar Industries, the country’s leading explosives manufacturing company, to rise by 30 percent. Solar Industries share has given multibagger returns to investors in five years. During this period the price of this share has increased by 1275 percent.
Solar Industries Share Target Price
Goldman Sachs has given ‘buy’ rating on Solar Industries and fixed its target price at ₹ 18,215. The brokerage says this development further strengthens its confidence in the growing total potential market (TAM) for domestic defense companies. The brokerage says that the company’s non-defense business protects it from the risks associated with defense orders. Although its free cash flow may remain negative by FY28, this will only be due to higher capex investments.
ICICI Securities has set the target of this defense stock at ₹ 17,200. The brokerage expects the company’s revenue CAGR to be 27% between FY25 to FY28 and EBITDA margin to reach 27% in FY28, which will be 100 basis points higher than FY25. Philips Capital has set the target price of Solar Industries at ₹ 15,900.
The stock has given multibagger returns
Solar Industries stock had made a record high of ₹ 17,805 this year on June 30, 2025. It has given excellent returns of 171% in the last two years and 1263% in the last five years. Solar Industries India’s RSI (Relative Strength Index) is currently 47.6, which indicates that the stock is neither in the overbought nor oversold zone. Currently the stock is trading below the 5, 10, 20, 30, 50, 100 and 150 day moving averages and above the 20 day and 200 day moving averages.
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