Nuvama initiates 'Buy' rating on Skipper; stock jumps 11%

Global brokerage Nuvama has initiated coverage on Skipper with a 'Buy' rating and a target price of Rs 650, suggesting a potential upside of 46% from the previous closing price of Rs 444 per share. Nuvama emphasized that Skipper is well-positioned for strong performance as a niche player, particularly in light of the proposed National Electricity Policy (NEP), which outlines a substantial transmission capital expenditure of Rs 9.2 trillion.