India's ACME Solar jumps after HSBC raises target price on improving business momentum
BUZZ-India's ACME Solar jumps after HSBC raises target price on improving business momentum ** Shares of Acme Solar Holdings ACMO.NS rise as much as 4.73% to 421.35 rupees
** HSBC raises PT to 450 rupees from 390 rupees, citing pickup in renewable energy auctions after past year slowdown; maintains "buy" rating
** Says ACME converted 730 MW of letters of award into power purchase agreements over past two quarters, boosting confidence in co's ability to maintain momentum
** Raises FY28 and FY29 EPS estimates by 17.2% and 36.2%, respectively, after adjusting BESS capex, project commissioning timelines
** Says co among fastest deployers of battery energy storage systems in India, well placed to win new projects
** Rated "buy" on avg by 11 analysts, 427 rupees median PT - LSEG-compiled data
** YTD, stock up nearly 75%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Recent news on ACME Solar Holdings
See all newsBrief: ACME Solar Holdings Says Unit Commissioned 66.68 MW Solar Component Of Hybrid Power Project At Bikaner
India's ACME Solar jumps on battery storage expansion, broker optimism
Brief: Acme Solar Signs PPA With NTPC For 400 MW ISTS-Connected FDRE Project
India's ACME Solar rises after quarterly profit more than doubles
Brief: Acme Solar Unit Commissions 35.77 MW/143.08 MWh Bess Component In Rajasthan On Oct 27, 2026