ACME Solar Shares Surge 21% YTD Amid Market Challenges; Analysts Predict Further Growth
ACME Solar shares up over 20% YTD. HSBC, Motilal Oswal see further upside; here's why
Mint
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ACME Solar Holdings has seen a 21% year-to-date increase in its stock price despite broader market challenges. Analysts from HSBC and Motilal Oswal recommend buying, citing strong quarterly performance and strategic growth in renewable energy projects.
- 01ACME Solar shares have gained 21% YTD despite market volatility.
- 02HSBC and Motilal Oswal have set target prices of ₹370 and ₹410, respectively.
- 03The company's Q4FY26 PAT rose by 12.93% year-on-year.
- 04Analysts highlight the importance of BESS capacity additions for future growth.
- 05Technical experts suggest waiting for further price corrections before buying.
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ACME Solar Holdings has experienced a 21% increase in its stock price year-to-date, even as the broader market faces challenges such as geopolitical tensions and rising crude oil prices. The company's recent quarterly results showed a 12.93% year-on-year increase in profit after tax (PAT), reaching ₹139.32 crore, with total income rising by 12.52% to ₹547.85 crore. Global brokerage firm HSBC has issued a buy recommendation, raising its target price from ₹350 to ₹370, citing ACME's transition to a more complex renewable energy model that includes battery energy storage systems (BESS). Domestic brokerage Motilal Oswal has also set a buy target of ₹410, reflecting a positive outlook on ACME's growth strategy. However, some technical analysts advise caution, suggesting that investors wait for further corrections before entering new positions, as the stock shows signs of exhaustion near its current levels. Immediate support is noted at ₹275 and resistance at ₹306.
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Investors considering ACME Solar shares should be aware of potential price corrections that could affect their buying decisions. The company's growth in renewable energy could lead to increased job opportunities in the sector.
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