India's Clean Max Enviro Energy Solutions rises as Axis Capital initiates coverage
BUZZ-India's Clean Max Enviro Energy Solutions rises as Axis Capital initiates coverage ** Shares of India's Clean Max Enviro Energy Solutions CLEM.NS rise as much as 5.6% to 1151.60 rupees, last up 2.71%
** Axis Capital initiates coverage on renewable energy co with "Buy" rating, TP of 1,375 rupees citing strong growth outlook and capacity expansion plans
** Says co is well-positioned to scale capacity 3x by FY30, supported by strong commercial and industrial demand
** Expects EBITDA and profit to grow at annual rates of about 46% and 54%, respectively, over FY26-FY30
** However, brokerage says regulatory changes affecting open-access renewable energy tariffs remain a medium-term risk
** Stock up 13.6% since listing on March 2
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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