Schneider Electric shares rise to ₹1,253.50 after Ambit buy rating
Schneider Electric shares were 5.9% higher to ₹1,253.50 on Wednesday, thanks to a fresh "buy" rating from Ambit.
The brokerage set a price target of ₹1,400, an 18% potential gain, and called Schneider a "strong proxy" for India's booming data center sector, which now makes up over 10% of its revenue (up from just 3% to 4% in FY2020).
Ambit: Schneider data center 50% CAGR
Ambit thinks Schneider's data center business could grow at a rapid 50% CAGR from FY2026 to FY2029, helping boost overall group revenue by 24% each year.
The company is also betting big on making India its manufacturing hub, aiming to raise export share of revenue from 12% to 15%.
Even with short-term margin pressures due to higher commodity costs, Ambit believes things have bottomed out and sees strong future growth ahead.