Emmvee Photovoltaic shares rise 9% in trade; here's what is fuelling demand

Shares of solar manufacturing sector player Emmvee Photovoltaic Power were trading higher on Wednesday, January 7, 2026, amidst high volumes. The company’s share price surged by as much as 9.13 per cent to hit an intraday high of ₹218.34 per share on the NSE.

 

Notably, Emmvee Photovoltaic Power stock has continued its upward trajectory for the second consecutive session, with the stock price rising over 18 per cent in the last two trading sessions. However, despite the gains, the share price still remains nearly 12 per cent below its 52-week high of ₹248.40, which was recorded on December 3, 2025.

 

 

Although the stock pared some of its gains later in the session, buying interest persisted. As of 11:17 AM, the shares were trading at ₹214.80, up 7.37 per cent from the previous close of ₹200.06. A combined total of nearly 8 million equity shares of Emmvee Photovoltaic Power, valued at approximately ₹168.38 crore, had changed hands on the NSE and BSE so far during the day.

Emmvee Photovoltaic provides clarification on volume spurt

The northward movement in the Emmvee Photovoltaic Power came after the comapny responded to the NSE's query regarding the surge in trading volume. The company stated that it has made all necessary disclosures concerning events or information that may have an impact on the company’s operations or performance. The company clarified that no material information or event, which may affect the price or volume behavior of the stock, has been withheld.

 

The company also emphasised that there is no new information or event that may require dissemination to investors, stating that the volume and price movements appear to be market-driven. “We believe that the volume/price behavior of the company’s securities is due to market conditions,” the company said in an exchange filing.

 

Earlier, on January 6, the NSE had sought clarification from the company regarding the significant increase in trading volume and the rise in its share price. “Significant increase in volume has been observed in Emmvee Photovoltaic Power Limited. The Exchange, in order to ensure that investors have the latest relevant information about the company, has written to the company,” the NSE had stated. 

Jefferies initiates coverage with 'Buy' rating 

Part of the buying interest is attributed to global brokerage firm Jefferies initiating coverage on Emmvee Photovoltaic Power with a ‘Buy’ rating and a target price of ₹320 per share. Jefferies projects a 56 per cent compound annual growth rate (CAGR) in earnings per share (EPS) over FY25-28E, driven by rising volumes, even as the company builds a compression in earnings before interest, tax, depreciation, and amortisation per watt-peak (Ebitda/Wp).