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Emmvee Photovoltaic Shares Soar 8% on Jefferies' Bullish Outlook
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CNBC TV18•21-09-2026, 11:58
Emmvee Photovoltaic Shares Soar 8% on Jefferies' Bullish Outlook
- •Emmvee Photovoltaic Power Ltd. shares jumped over 8% on Monday, September 21, following a positive commentary from brokerage firm Jefferies.
- •Jefferies maintained its "buy" recommendation with a target price of ₹440 per share, indicating a 34% upside from its previous close.
- •The company projects 70 GWdc demand in the current fiscal year, with demand outstripping domestic content requirement (DCR) supply.
- •Emmvee's module/cell capacity is expanding by 6 GW, targeting 9 GW ingot-wafer integration by FY2029-2030, leading to a projected 33% EBITDA CAGR between FY2026-2029.
- •The company's order book stands at 9.9 GW, with a record 1.48 GW in fresh order inflows during the last quarter.
Key Questions Answered
Brokerage firm Jefferies maintained a "buy" recommendation on Emmvee Photovoltaic Power Ltd. with a target price of ₹440 per share.
Jefferies projected that Emmvee Photovoltaic's EBITDA is likely to grow at a Compound Annual Growth Rate (CAGR) of 33% between the financial years 2026 and 2029.
Emmvee Photovoltaic's order book stands at 9.9 GW, following fresh order inflows of 1.48 GW during the quarter, which marks its highest quarterly addition yet.
