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Nomura initiates coverage on Clean Max Enviro with Buy call. Check upside potential, key reasons
Economic Times — Markets✓
Original Reporting
AI EXECUTIVE SUMMARY
Financial firm Nomura has started covering Clean Max Enviro Energy Solutions by assigning the company a Buy rating alongside a target price of Rs 1,510. The positive outlook is driven by anticipated robust expansion within India's commercial and industrial renewable energy sector. Additionally, the brokerage projects substantial compound annual growth rates for both revenue and earnings through fiscal year 2029, following a profitable first quarter.
WHY IT MATTERS
This analyst coverage highlights strong institutional confidence in the commercial and industrial renewable energy sector in India, signaling potential investment interest in Clean Max Enviro Energy Solutions as it targets significant financial growth through 2029.
Nomura initiated coverage on Clean Max Enviro Energy Solutions with a Buy rating and a Rs 1,510 target, implying 21% upside, citing strong growth prospects in India’s C&I renewable energy market. The brokerage expects revenue and EBITDA to grow at CAGRs of 39% and 50%, respectively, through FY29, while Clean Max’s Q1 profit turned positive and revenue more than doubled year-on-year.
This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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