Shares of Solar Industries have given 145 percent return to investors in one year. In the last six months, investors have made a profit of 35 percent from this stock.The company has achieved good profit growth of 27.80% in the last 3 years.
New Delhi. Solar Industries, a stock that gave 145% multibagger returns in one year, is still soaring today. Intraday, this stock jumped by 5% today and reached its new 52-week high of Rs 9,499. After the excellent results of the fourth quarter, investors are very enthusiastic about this stock. The brokerage is also confident that this multibagger stock will earn more money. This is the reason why brokerage firm Nuvama has increased the target price of Solar Industries stock. At 3 pm, this stock was trading at Rs 9375 on NSE with a gain of 4.44%.
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Solar Industries’ net profit grew 10 per cent to Rs 243 crore in the quarter ended March from Rs 221 crore in the same quarter last year. However, the company’s sales declined 16 per cent year-on-year to Rs 1611 crore from Rs 1929 crore a year ago. Solar Industries’ defense segment recorded a sharp growth of 75 per cent year-on-year and the firm’s management is confident of a 3-fold increase in defense revenue in FY25. Gross margin increased 1024 bps to 48.5 per cent due to lower raw material costs.
Nuwama increased the target price
Nuvama Institutional Equities has maintained its ‘Hold Call’ on Solar Industries shares. But, the brokerage increased its target price from Rs 7056 per share to Rs 9254 per share. This means that there is a possibility of an increase of about 4.2 percent in the stock from the previous closing price.
Gave 145 percent return in a year
The stock of Solar Industries has given 145 percent return to investors in one year. So far in the year 2024, this stock has climbed 38 percent. In the last six months, investors have made 35 percent profit from this stock, while the price of this multibagger stock has strengthened by 10 percent in one month.
Promoters hold 73% stake
The current market capitalization of Solar Industries is ₹ 84,010.97 crore. The promoters’ stake in the company is 73 percent. Domestic institutional investors hold 14.52 percent of Solar Industries while foreign institutional investors hold 6.1 percent. The company has achieved a good profit growth of 27.80% in the last 3 years. Similarly, the company’s revenue growth during this period has been 40.16%.
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first published : May 21, 2024, 3:26 pm IST
