Solar Industries India's MSCI inclusion-led rally gets ICICI PT boost

Solar Industries India

04/07/2024 08:16

** Solar Industries India  SLIN.NS  jumps nearly 3% to
~11,815 rupees
    ** Stock rallies for 5th straight session, surging ~20%
since MSCI Global Standard index inclusion at May end
    ** ICICI Securities hikes price target to a Street-high
13,250 rupees, from 11,000 rupees; keeps 'buy'
    ** Brokerage expects the explosives maker's defence rev to
get a boost from domestic demand, exports
    ** This after Indian Navy's successful certification tests
for three new Solar explosives with higher performance,
lethality, per media reports
    ** Avg rating of 5 analysts is 'buy', while PT range from
6,421-10,230 rupees (excl ICICI) -LSEG data
    ** Stock has rocketed ~75% YTD vs jumps of 53%-121% in past
3 years

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))