Economy
Nuvama Initiates Coverage On Powerica With Buy Rating And Target Of ₹700
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THE BRIEF
1
Powerica shares have gained nearly 48% from their initial public offering price of ₹395, closing at ₹584.85 on Friday.
2
Nuvama Institutional Equities initiated coverage on the stock with a Buy rating and a target price of ₹700, projecting a 20% upside from its previous close.
3
The bullish outlook is driven by anticipated recoveries in the diesel generator business, wind capacity expansion to 631 MW by FY29, and retrofit emission control devices.