Nomura initiates 'Buy' ratings on Tata Power and JSW Energy, projecting 16% and 38% EBITDA CAGRs.

Nomura has begun coverage of Tata Power and JSW Energy, assigning 'Buy' ratings and target prices of Rs 560 and Rs 885, respectively. They forecast Tata Power's EBITDA to grow at 16% CAGR and JSW Energy at 38% CAGR from FY24 to FY27, driven by increased renewable energy capacity. Nomura predicts India's energy demand will rise by 7% CAGR by FY30, fueled by government initiatives and the shift toward green energy.

October 08, 2024
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