ACME Solar Holdings share price debuted on November 13 last year. As of the previous session’s close of 207.60, the stock is down 28 per cent against its issue price of ₹289.
The stock hit an all-time high of ₹292 on December 4 last year and an all-time low of ₹167.55 on January 28 this year.
Acme Solar shares: Ready to rise?
Brokerage firm Motilal Oswal Financial Services has initiated coverage on the stock with a buy call, pegging the target price at ₹330, implying an upside potential of 59 per cent.
The brokerage firm finds the stock to be a focused play in the renewable energy theme.
“ACME Solar Holdings boasts a diversified portfolio of nearly 7GW of renewable capacity, spanning solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects. As of date, the company has an operational portfolio of nearly 2.5GW, while the total project pipeline, including under-construction projects, stands at about 4.4GW,” Motilal Oswal observed.
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