Kotak Institutional Equities has initiated a Sell rating on Waaree Energies with a target price of ₹2,550 and on Premier Energies with a target price of ₹770.
Key insights:
- India’s solar sector is expected to grow at an 18% CAGR in utility-scale solar capacity additions until FY2030.
- Both companies are well-positioned for robust growth in domestic and US markets, supported by trade and non-trade barriers.
- Waaree Energies is projected to achieve a 35% PAT CAGR over FY2024-30E.
- Premier Energies is forecasted to deliver a 44% PAT CAGR over FY2024-30E.
- Despite strong growth potential, the Sell recommendation is driven by concerns over elevated valuations.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Readers are advised to conduct their own research or consult a financial expert before making investment decisions.
