Shares of rallied sharply by 8 per cent in Friday’s session, buoyed by bullish commentary from brokerages highlighting its strong growth visibility and positioning in next-generation renewable segments.
The stock jumped nearly 8 per cent intraday, rising to ₹274 from its previous close of ₹254.12. It later traded about 6 per cent higher at ₹268.83 on the NSE at 12:34 pm, as buying interest remained firm through the session.
Brokerage Investec initiated coverage with a buy rating and a target price of ₹319, a 25.5 per cent upside potential from previous close, citing ACME Solar’s transition into a leading player in firm and dispatchable renewable energy (FDRE). The firm noted that the company’s growing focus on hybrid solutions combining solar, wind, and storage positions it well to deliver round-the-clock clean power, a segment expected to see strong demand.
Investec highlighted that nearly half of ACME’s portfolio is already aligned to FDRE, with a robust pipeline of about 5 GW under development. It expects strong earnings growth over the next few years, driven by capacity additions and higher utilisation assets, with profitability supported by improving return ratios and execution visibility.
Domestic brokerage Centrum Broking also initiated coverage with a buy call at ₹315. It said the company emerging as a high-growth renewable independent power producer (IPP), backed by a strong pipeline, improving financial discipline, and increasing exposure to high-value hybrid and round-the-clock power projects.
Centrum Broking expects robust earnings momentum, projecting revenue, EBITDA, and profit to grow at a strong pace over FY25–FY28, supported by steady capacity additions and long-term power purchase agreements that provide stable, annuity-like cash flows.
The brokerage further noted that ACME’s strategic shift towards hybrid, FDRE, and storage-backed projects enhances its competitiveness, offering better tariffs and improved project economics compared to traditional solar assets.
With India accelerating its renewable energy push, analysts believe ACME Solar’s expanding portfolio, execution track record and early positioning in complex energy solutions could drive sustained growth and valuation re-rating over the medium term.
The company’s arm recently commissioned an additional 4 MW out of 100 MW wind power project at Surendaranagar district, Gujarat.