Business · India Bureau
ACME Solar scales fresh peak as analysts cite growth momentum
Shares of ACME Solar Holdings surged to an all-time high on Tuesday, extending gains to over 100% in the past eight months. HSBC analysts attribute the rally to the company's aggressive capacity expansion plans over the next two years.
LSN India ·
ACME Solar Holdings climbed 6% during trading to reach a fresh all-time peak, driven by bullish sentiment around the company's medium-term growth trajectory. The stock has nearly doubled since the start of the year, reflecting strong investor conviction in the renewable energy sector's expansion prospects.
The rally has been underpinned by expectations that ACME Solar is entering a high-growth phase, with significant capacity additions planned over the next 24 months. The company's expansion strategy aligns with India's push to scale renewable energy infrastructure and meet its climate commitments.
HSBC maintained a 'Buy' rating on the stock, citing the company's positioning to capitalize on rising demand for solar power generation capacity. The brokerage's recommendation underscores analyst confidence in ACME Solar's ability to execute its growth pipeline and deliver value to shareholders.
The broader renewable energy sector has benefited from supportive policy frameworks and growing corporate demand for clean power, factors that have supported stock valuations across the space. ACME Solar's performance reflects investor appetite for companies well-positioned in India's energy transition narrative.