India's Vikram Solar falls; UBS cuts PT citing sectoral concerns

Vikram Solar

27/03/2026 05:50

** Vikram Solar VIKO.NS falls 2.5% to 190.16 rupees

** UBS ("neutral") cuts PT to 215 rupees from 370 rupees

** Says solar PV module manufacturer plans to achieve fully-integrated solar manufacturing capacity by FY29

** Warns front-loaded capacity additions by large sectoral players could pose market share challenges

** Adds policy framework largely favours integrated manufacturers; likely to accelerate sector consolidation, which limits sector total addressable market

** Notes co's capex plan ambitious; cell order wins, pace of manufacturing ramp-up important milestones for investors

** Stock rated "buy" on avg; median PT is 323 rupees, per data compiled by LSEG

** YTD, VIKO down 20%

 (Reporting by Abhirami G in Bengaluru)

 ((abhirami.g@thomsonreuters.com))