India's Juniper Green rises after HSBC starts coverage with 'buy'
BUZZ-India's Juniper Green rises after HSBC starts coverage with 'buy' ** Shares of renewable power producer Juniper Green Energy JUNP.NS rise as much as 2.84% to 272.90 rupees
** HSBC initiates coverage with "buy" rating and PT of 330 rupees, citing co's strong execution capabilities and expectations of rapid capacity growth
** Brokerage expects co's ~2 GW operational capacity to nearly triple by FY29 as under-construction projects are commissioned
** HSBC forecasts EBITDA CAGR of 135% over FY26-FY28, driven by execution of contracted capacity backed by long-term power purchase agreements
** Brokerage flags high leverage, higher equipment and borrowing costs, and delays in commissioning contracted capacity as key downside risks
** Stock up 11.38% since trading debut on August 6
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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