New Delhi, Sept. 22 -- Defence multibagger stock alert: Shares of Solar Industries India Limited surged nearly 2% during Tuesday's intraday trading session after Motilal Oswal initiated a 'Buy' rating for the defence stock. The Maharashtra-headquartered firm has strengthened its position not just in the domestic explosive market into an integrated defence manufacturer. As the company aims to climb up the ladder in the defense value chain, Motilal Oswal sees a 55% upside in the defence stock in bull case.

Solar Industries India Limited is a key defence player in the industrial explosives manufacturing space. It also produces and supplies high end military explosives, indigenous defence equipment like Pinaka and Akash rocket systems.

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