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A defence stock that has delivered strong multibagger returns could be set for a fresh uptrend following its announcement of an acquisition of a South African firm. The company- Solar Industries India- which manufactures industrial explosives and initiating systems, for mining, infrastructure, construction, defence and space sectors, on 14 September said its wholly-owned step-down subsidiary -Solar SA Investments Proprietary Limited- will acquire all outstanding shares of Omnia Holdings Limited- an international diversified group providing innovative products, solutions and specialised services to the mining and agriculture sectors. "Solar SA Investments Proprietary Limited and Omnia Holdings Limited announced the signing of definitive agreements under which Solar SA Investments Proprietary Limited will acquire all outstanding shares of Omnia in an all-cash transaction for a consideration of approximately $1.355 billion ( ₹12,951 crore), subject to customary closing conditions, including receipt of required regulatory approvals and approval by Omnia shareholders," said the company in an exchange filing. According to the company's exchange filing, Omnia operates in 23 countries and serves customers in more than 40 countries across Southern and Western Africa as well as in key international markets including Australia, the United States, Canada, Brazil and Indonesia. For the financial year ended 31 March 2026, Omnia reported revenue of approximately $1.41 billion ( ₹13,307 crore) and remained net cash positive. "Omnia is a business we have long admired for the strength of its mining and agriculture businesses, differentiated technologies and brands, and deep customer relationships built over many years. The proposed transaction marks an important milestone in our ambition to become a global leader in explosives and blasting solutions, while also providing us with a meaningful entry into integrated crop nutrition and biological solutions," said Manish Nuwal, Managing Director and Chief Executive Officer of Solar Group. "Together, the combined group will be positioned to offer the most integrated blasting solutions, creating meaningful competitive advantages through enhanced supply security, greater economies of scale, technology differentiation, access to key mining markets across Africa and other international geographies, and deeper customer engagement," said Nuwal. According to BSE, Solar Industries India shares have surged 3,381% over the last 10 years. This means, ₹1 lakh invested in this stock 10 years ago would have become nearly ₹35 lakh now. In the last three and five years, the stock's rise is 378% and 1,147%, respectively. Year-to-date, the stock has surged 83%. The stock hit a 52-week high of ₹22,617.10 last Wednesday (9 September) and a 52-week low of ₹11,641.10 on 18 December last year. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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