Moneycontrol PRO

Hold Solar Industries: target of Rs 2850: ICICI Securities

ICICI Securities recommended hold rating on Solar Industries with a target price of Rs 2850 in its research report dated April 08, 2022.

April 11, 2022 / 10:36 AM IST
  • bselive
  • nselive
Todays L/H

ICICI Securities research report on Solar Industries

Solar Industries (SOIL) surprised with an investment (undisclosed amount) in an unarmed aerial solutions (UAS) company ZMotion Autonomous (ZM) incorporated in CY18. This is the second announced start-up investment by SOIL after a strategic stake (Rs175mn) into Skyroot – a space start-up helping ISRO with propulsion systems (SOIL incidentally also received ToT on 7th Apr’22 (propellant casting for Dual Pulse propulsion system). The rationale for the strategic investment has been shown as “will strengthen SOIL’s initiative to introduce weaponised unmanned aerial vehicle (UAVs) for offensive and counter drone system for defensive roles”. ZM will become an associate company after the investment (45% stake by Mar’25; 25.11% upfront acquisition, rest through investment in CCPS).


We hosted Mr. Ankit Mehta, CEO and cofounder of Ideaforge to discuss the developing UAV space in India. We are sharing some of the key takeaways in this report. This in our view, sufficiently addresses, the scope and opportunity of investment in the domain. Maintain HOLD on SOIL.


More Info

At 10:34 hrs Solar Industries India was quoting at Rs 3,000.75, up Rs 8.15, or 0.27 percent.

It has touched an intraday high of Rs 3,052.10 and an intraday low of Rs 2,984.40.

It was trading with volumes of 820 shares, compared to its thirty day average of 3,121 shares, a decrease of -73.73 percent.

In the previous trading session, the share closed up 1.48 percent or Rs 43.65 at Rs 2,992.60.

The share touched its 52-week high Rs 3,191.55 and 52-week low Rs 1,198.45 on 06 April, 2022 and 14 May, 2021, respectively.

Currently, it is trading 5.98 percent below its 52-week high and 150.39 percent above its 52-week low.

Market capitalisation stands at Rs 27,153.80 crore.

 For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Apr 11, 2022 10:36 am
ISO 27001 - BSI Assurance Mark