SOLAR INDUSTRIES INDIA SHARES GAIN OVER 2%

Solar Industries India Ltd extended their morning gains to more than 2% in Tuesday’s trade after global brokerage initiated coverage on the defense and explosives manufacturer with a Buy rating, citing strong growth prospects for India’s private-sector defence industry. Solar Industries shares climbed 2.3%. The stock has surged nearly 84% so far in 2026, significantly outperforming the Nifty 50, which has declined around 9% during the same period. The company’s market capitalisation stood at more than ₹2 lakh crore. The positive sentiment around defense stocks comes after the Defense Acquisition Council, chaired by Defense Minister Rajnath Singh, on Monday granted Acceptance of Necessity for procurement proposals worth approximately ₹1.10 lakh crore across the Army, Navy and Air Force. Importantly, around 98% of the proposed procurement has been earmarked for Indian industry, potentially creating substantial opportunities for domestic defence manufacturers. The approved proposals cover a broad range of military equipment, including Advanced Light Helicopters, high-mobility vehicles, mechanical mine layers, radars, marine gas turbines and ground-based multi-purpose jammers. Experts noted that defence acquisition approvals have already reached around ₹1.62 lakh crore in FY27 so far, while approvals from FY25 through FY27 year-to-date stand at approximately ₹13 lakh crore.