Multibagger Stock: Solar Industries India, a leading manufacturer of explosives for industries and military, has also created a lot of bang in the stock market. Its shares have made investors millionaires in 15 years with an investment of just Rs 51,000. So far this month, it has gained more than 4 per cent and according to market experts, it still has a scope of 18 per cent upside. Domestic brokerage firm ICICI Securities has fixed a target price of Rs 4225 for investing in it. Shares of Solar Industries closed at Rs 4032.20 on BSE today (Solar Industries India Share Price). Its market cap is Rs 36,847.40 crore.

Made 51 thousand one crore in 15 years

Shares of Solar Industries were available on May 4, 2007 at a price of Rs 20.55 (Solar Industries India Share Price). Now it is 196 times higher than this at a price of Rs 4032.20. This means that Rs 51,000 invested in it at that time has now become a capital of Rs 1 crore. Solar Industries has given excellent returns not only in long term but also in short time frames.

This year on 15 February 2022, it was at a price of Rs 2160.05, which is a record low of one year. After this, the bullish trend returned and it jumped 98 per cent to reach a record high of Rs 4269.40 within 9 months. However, then the price slowed down and now it has slipped about 6 percent from this height.

Now what is the future trend of Solar Industries?

Solar Industries earlier used to prepare explosives for industries but now it has entered the defense sector as well. This company can integrate missiles and rockets at one place, due to which it is in a better position than other ordinance factories. Because of this, it is likely to get defense orders regularly. Apart from this, the growth of explosive business is better. Due to all this, brokerage firm ICICI Securities has upgraded the rating on Solar Industries from Hold to Buy and increased the target price to Rs 4,760 from Rs 4,225.

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