International brokerage firm Jefferies initiated coverage on the stock with a Buy rating and a target price of Rs 320, a 60% upside from current levels, citing strong growth visibility, policy support and attractive valuations. Analysts at Jefferies suggest that India’s annual solar installations grow at a 24% CAGR between FY25 and FY28, largely aided by falling solar tariffs, rising power demand and the increasing adoption of battery energy storage systems.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)