Japanese brokerage firm Nomura has initiated coverage on Clean Max Enviro Energy Solutions with a Buy rating and a target price of Rs 1,510, implying 21% upside from current levels, citing robust growth levers in the quarters ahead.
Analysts at the firm expect the company to deliver revenue and EBITDA CAGRs of 39% and 50%, respectively, over FY26-29F. It sees India's skewed tariff structure as a key driver of the commercial and industrial (C&I) renewable energy opportunity, with C&I consumers paying 60-120% more than subsidised segments.
