The renewable power space continues to be in focus. One of the key solar energy stocks , Waaree Energies , has seen significant traction. Its Q2FY26 profit grew 2x YoY while production surged 42% in the last 1 year. The company also maintained its FY26 EBITDA guidance of Rs 5,500–6,000 crore. Nuvama has a ‘Buy’ rating on the stock with a target of Rs 4,150 per share. This implies about 17% upside for the Waaree Energies share price from current levels.

Nuvama on Waaree Energies: High return potential

According to Nuvama, Waaree Energies’ valuation is a key point supporting the positive rating. Based on “the high potential returns and strong balance sheet, we reckon stronger OCF shall largely take care of higher capex needs. With Rs 5,100 crore of net cash, Rs 5,000 crore+ per annum

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