Hold Solar Industries; target of Rs 682: Axis Direct
Axis Direct recommended hold rating on Solar Industries with a target price of Rs 682 in its research report dated November 29, 2016.
Axis Direct's research report on Solar Industries
Higher spends in infrastructure creation will lead to rise in demand for cartridge explosives. Solar Inds being a large supplier of cartridge explosives would be a BIG beneficiary of the enhanced activities in infrastructure development & construction activities in the country. Overseas production facilities along with exports are also contributing to the performance of the company. The mining activities have resumed thus helping the sales of the bulk explosives. We, hence, retain HOLD on the stock with target price to Rs 682.
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