Solar Industries shares plunge 17% in 2 days. Why Jefferies, Nuvama still see up to 46% upside

Solar Industries shares have plummeted by 17% over the past two trading sessions. This decline is largely attributed to the company's recent acquisition of South Africa's Omnia Holdings for Rs 12,951 crore. Despite the sharp correction, two major investment firms, Jefferies and Nuvama, still believe in the company's potential, citing strong earnings growth, cash flows, and strategic benefits from the acquisition and expansion plans. They see up to 46% upside in the company's shares.

Why it matters

Solar Industries' shares have fallen after a major acquisition, but some analysts still see upside potential. This could lead to a mixed market reaction, with some investors buying into the potential upside and others selling due to the recent decline.

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