This stock has increased its value 9 times in 5 years, brokerage said- buy it, it will rise

New Delhi. Solar Industries Share, a company that manufactures industrial explosives and defense products for the mining and infrastructure sector, has been giving multibagger returns for the last several years. This share, which was priced at Rs 1113 five years ago, has gone up to Rs 13,298 this year. However, after touching its record high, this share has declined. In the last one month itself, the share of Solar Industries has fallen by 14 percent. But, the special thing is that many brokerage houses feel that this stock still has strength left and it will pick up pace soon. ICICI Securities and Centrum Broking have advised to buy Solar Industries shares. At the same time, Nuwama has advised investors to ‘hold’ this stock.

Today, the stock of Solar Industries is trading at Rs 10,309.95 with a slight increase on the NSE. The shares of Solar Industries India Limited have become a multibagger in the last five years. During this period, this stock has given 835 percent return to the investors. This defense stock has given 162 percent return in the last one year and 230 percent return in two years. In the last six months, the price of Solar Industries share has climbed by about 50 percent, so in the year 2024, this stock has given about 53 percent return to the investors so far. On July 11 this year, this stock touched its all-time high level of Rs 13,298. The 52-week low of Solar Industries share is Rs 3,877.65.

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what does the technical chart say
The Relative Strength Index (RSI) of Solar Industries India is 41.7. This indicates that the stock is neither in the overbought zone nor in the oversold zone. Currently, Solar Industries India shares are trading below the 10 day, 20 day, 30 day, 50 day moving averages but above the 100 day, 150 day, and 200 day moving averages.

Stock Outlook
Brokerage firm ICICI has given a ‘buy’ rating to Solar Industries stock. The brokerage has now increased the target price of this stock to Rs 13,250. Nuvama has maintained its ‘hold’ rating on this stock, but has increased the target price from 9247 to Rs 11,140. Centrum Broking has also maintained its ‘buy’ rating and advised investors to invest in this stock for a price target of Rs 11665.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)

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