Waaree, Premier Energies: Why YES Securities sees 30-36% upside on 2 stocks; target prices
Despite the recent market fall, Waaree Energies and Premier Energies delivered returns of 17 per cent and 27 per cent, respectively, over the past one month.
- Apr 1, 2026,
- Updated Apr 1, 2026 10:57 AM IST
YES Securities suggested a ‘Buy’ rating on Waaree Energies and Premier Energies, with target prices implying 30-36 per cent upside potential. Despite the recent market fall, the two stocks delivered returns of 17 per cent and 27 per cent, respectively, over the past one month. The domestic brokerage said the power sector is evolving towards a renewable-dominated yet balanced ecosystem, combining clean energy, storage and conventional sources to ensure reliability, scalability and long-term energy security.
As per the latest government data, total installed capacity has already reached 520 GW as of January 2026, with non-fossil sources accounting for 52 per cent of the mix crossing the 50 per cent milestone ahead of schedule. YES Securities said capacity addition momentum has stayed robust, with a record 52.5 GW added in FY26 (till January), of which a significant 43 GW came from renewable sources, led by solar (35 GW). This, it said, marks a clear acceleration versus historical trends and signals faster-than-expected progress toward long-term targets.
The domestic brokerage cited the dominance of non-fossil capacity, which is expected to reach 786 GW, 70 per cent of total capacity by FY36, up from 52 per cent currently. Within this, solar leads the expansion with 509 GW, forming the backbone of incremental capacity addition, followed by wind at 155 GW, along with contributions from hydro and nuclear to provide balancing and baseload support, YES Securities said.
"Solar is emerging as the primary growth engine due to its cost competitiveness and scalability, while wind, hydro, and nuclear provide complementary support to balance the grid," YES Securities said.
It suggested a target of Rs 4,191 on Waaree Energies, which suggested 35.56 per cent potential upside over Wednesday's intraday price. YES Securities' target on Premier Energies stood at Rs 1,182, suggesting 30.57 per cent potential upside. On Wednesday, shares of Waaree Energies were trading 0.51 per cent lower at Rs 3,091.20. Premier Energies Ltd, on the other hand, gained 1.53 per cent to Rs 905.25.
"Solar is expected to be the primary growth driver, scaling up to 509 GW by FY36, accounting for the majority of incremental capacity additions due to its cost competitiveness, scalability, and faster execution timelines. Wind capacity is projected to reach 155 GW, while hydro and nuclear provide balancing support and firm clean power, enabling a more stable renewable ecosystem," YES Securities said.
With increasing renewable penetration, energy storage solutions such as BESS and pumped storage are becoming critical, enabling flexibility, peak management, and efficient integration of intermittent supply, it said.
YES Securities suggested a ‘Buy’ rating on Waaree Energies and Premier Energies, with target prices implying 30-36 per cent upside potential. Despite the recent market fall, the two stocks delivered returns of 17 per cent and 27 per cent, respectively, over the past one month. The domestic brokerage said the power sector is evolving towards a renewable-dominated yet balanced ecosystem, combining clean energy, storage and conventional sources to ensure reliability, scalability and long-term energy security.
As per the latest government data, total installed capacity has already reached 520 GW as of January 2026, with non-fossil sources accounting for 52 per cent of the mix crossing the 50 per cent milestone ahead of schedule. YES Securities said capacity addition momentum has stayed robust, with a record 52.5 GW added in FY26 (till January), of which a significant 43 GW came from renewable sources, led by solar (35 GW). This, it said, marks a clear acceleration versus historical trends and signals faster-than-expected progress toward long-term targets.
The domestic brokerage cited the dominance of non-fossil capacity, which is expected to reach 786 GW, 70 per cent of total capacity by FY36, up from 52 per cent currently. Within this, solar leads the expansion with 509 GW, forming the backbone of incremental capacity addition, followed by wind at 155 GW, along with contributions from hydro and nuclear to provide balancing and baseload support, YES Securities said.
"Solar is emerging as the primary growth engine due to its cost competitiveness and scalability, while wind, hydro, and nuclear provide complementary support to balance the grid," YES Securities said.
It suggested a target of Rs 4,191 on Waaree Energies, which suggested 35.56 per cent potential upside over Wednesday's intraday price. YES Securities' target on Premier Energies stood at Rs 1,182, suggesting 30.57 per cent potential upside. On Wednesday, shares of Waaree Energies were trading 0.51 per cent lower at Rs 3,091.20. Premier Energies Ltd, on the other hand, gained 1.53 per cent to Rs 905.25.
"Solar is expected to be the primary growth driver, scaling up to 509 GW by FY36, accounting for the majority of incremental capacity additions due to its cost competitiveness, scalability, and faster execution timelines. Wind capacity is projected to reach 155 GW, while hydro and nuclear provide balancing support and firm clean power, enabling a more stable renewable ecosystem," YES Securities said.
With increasing renewable penetration, energy storage solutions such as BESS and pumped storage are becoming critical, enabling flexibility, peak management, and efficient integration of intermittent supply, it said.