0646 GMT - Solar Industries India looks well-placed to capture growth in high-entry-barrier segments like ammunition, Elara Securities (India) analysts say in a research report. The industrial explosives and defense product manufacturer's defense segment is expected to fuel the next phase of growth, driven by factors including India's 2.2 trillion rupee defense capital expenditure for FY 2027, the analysts say. The Indian company has expanded its commercial explosives presence, operating in over 90 countries with seven international manufacturing facilities. It plans 22 billion rupees in capex during FY 2026-2028 to scale existing capabilities and unlock new avenues like advanced ammunition. The brokerage initiates coverage of the stock with a buy rating and target price of 15,450.00 rupees. Shares are 3.7% higher at 13,027.80 rupees. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 25, 2026 02:46 ET (06:46 GMT)
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