It's confirmed! Nagastra drones used in Operation Sindoor; Solar Industries stock hits record high 

Shares of Solar Industries Ltd hit a fresh record high amid a fall in market today after the government said Nagastra drones were used in Operation Sindoor. The attack on airforce bases, which left Pakistan stunned and helpless comprised operations of loitering munitions such as Nagastra drones and Warmate. 

Nagastra drones are made by Nagpur-based Solar Industries and Bengaluru-based ZMotion. 

Solar Industries stock  gained 1.5% to Rs 13,934.90 on BSE today. Total 2672 shares of the firm changed hands amounting to a turnover of Rs 3.66 crore on BSE. The stock had a beta of 1.1 in the last one year, indicating high volatility during the period.  

In terms of technicals, the relative strength index (RSI) of Solar Industries India stands at 70.1, signaling the stock is trading in the overbought zone. Solar Industries India shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.        

The stock has delivered multibagger returns of 267% and 1453% in two and five years, respectively. 

The stock fell to a 52 week low of Rs 7889.95 on June 4, 2024.

Solar Industries manufactured these drones through its subsidiary Economic Explosives Limited (EEL). 

Solar Industries delivered the first batch of 480 Nagastra-1 loitering munitions with over 75 per cent indigenous content to Indian Army in June last year. 

The Nagastra is a type of "loitering munition." This implies that it can hover over a designated area, identifying and locking onto targets before launching a precise attack, even mid-flight.

The drone boasts of a powerful 1 kg high-explosive fragmentation warhead designed to effectively neutralize soft-skin targets. Its advanced capabilities include day and night surveillance cameras and a ground control station equipped with communication modules and a pneumatic launcher. The Nagastra-1 is designed for portability, consisting of a man-portable system that weighs around 30 kg, conveniently split into two rucksacks for easy field deployment.

These drones are reusable. If a mission is aborted or a target is not identified, the Nagastra-1 is designed to return to base and land safely using a parachute recovery mechanism.

Solar Industries is an India-based manufacturer of industrial explosives for the mining and infrastructure sector. The company offers industrial explosives and defence products.