Nomura initiates coverage on Waaree Energies, Waaree Energies; predicts upside of up to 16%

Global brokerage Nomura has initiated coverage on Waaree Energies and Premier Energies, assigning a ‘Buy’ and ‘Neutral’ rating respectively. The brokerage cited India’s power demand, expected to grow at a 6% CAGR through FY30, as a key growth driver for potential upside in both stocks.