Wednesday, August 19
India's solar manufacturing story is entering a phase of rapid scale-up, and Jefferies believes select domestic players are well placed to benefit from this transition. In a new report, the global brokerage has initiated coverage on Emmvee Photovoltaic Power with a Buy rating and a target price of Rs 320, a 70% upside from current levels, citing strong growth visibility, policy support and attractive valuations.Jefferies expects India's annual solar installations to grow at a 24% CAGR between FY25 and FY28, driven by falling solar tariffs, rising power demand and the increasing adoption of battery energy storage systems.According to the brokerage, solar power tariffs have consistently stayed below the cost of new thermal power over the past four years, making solar the preferred choice for
