Shares of Waaree Energies Ltd. are in focus on Thursday, November 6, as brokerage firm Motilal Oswal Financial Services has initiated coverage on the solar cell and manufacturing sector with a 19% upside projection on the stock.

The brokerage initiated coverage with a "buy" rating on Waaree Energies with a price target of ₹4,000 per share. However, its bull case price target of ₹5,895, implies a potential upside of 75% from Tuesday's closing levels.

Waaree Energies has a 5.4 giga watt (GW) cell and 16.1 GW module capacity, along with a 2.6 GW plant in the US. It also towers over its domestic competitors and enjoys a formidable India capacity market share of 21.6% / 13.3%, Motilal Oswal's note said.

Waaree Energies has also responded swiftly to the regulatory and macroeconomic changes a

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