Buy Solar Industries India; target of Rs 1088: Keynotes Financial Opiniery

Keynotes Financial Opiniery's research report on Solar Industries India

Founded in 1955 by Shri Satyanarayan Nandlal Nuwal. Solar Group is a leading company with the global marketplace in the explosive business. With an impressive clientele across the mining and infrastructure sectors. Manufacturers of a complete range of industrial explosives, detonators and detonating fuse and cast boosters. World’s largest cartridge manufacturing facility at a single location at Chakdoh, Nagpur. India’s largest manufacturers of Industrial Explosives and Initiating Systems. India’s first domestic supplier in private sector of HMX & HMX Compounded products to the defense sector. Large presence in the global market with footprints in 42 countries.

Outlook

On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 1070/- share an upside of 20% from current levels.

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