Nomura initiates research coverage on Clean Max Enviro Energy Solutions with a “Buy” rating, and the stock rises around 3% in response. Nomura sets a target price of Rs 1,510, indicating potential upside of about 21% from the then-current level mentioned in reports.
The brokerage links its view to expected strong expansion in India’s commercial and industrial (C&I) renewable energy market. Nomura projects Clean Max’s revenue to grow at a 39% compound annual growth rate (CAGR) between FY26 and FY29, while EBITDA is expected to compound at 50% over the same period.
Economic Times also notes recent company performance, saying Clean Max’s Q1 profit turns positive and revenue more than doubles year-on-year. NDTV focuses on the market reaction and the broker’s growth-rate estimates, while Economic Times adds the reasoning around the C&I demand outlook and the recent turnaround in quarterly results.
