Shares of Acme Solar Holdings surged 6.27% to Rs 285.50 after a foreign brokerage initiated coverage with a 'Buy' rating and a target price of Rs 350.
The brokerage expects the company to benefit from a strong project pipeline, steady capacity expansion and improving earnings visibility as execution accelerates. It also highlighted supportive policy measures and increasing solar auction activity as key growth drivers.
The brokerage added that the stocks current valuation does not fully reflect the companys growth potential or strengthening financial profile.
ACME Solar Holdings is an integrated renewable energy company with a diversified portfolio of over 8,000 MW across solar, wind, hybrid and storage solutions. Backed by in-house EPC and O&M capabilities, the company executes projects end-to-end, enabling timely delivery, cost efficiency and strong operating performance.
The companys consolidated net profit rose 1.47% to Rs 113.71 crore on a 42.3% jump in net sales to Rs 496.62 crore in Q3 FY26 over Q3 FY25.