Acme Solar gains 7% in trade; Centrum initiates with 'Buy', sees 16% upside

Shares of renewable energy player Acme Solar Holdings were in high demand on the bourses in an otherwise weak market on Friday, March 27, 2026, following a company announcement regarding project commissioning. Sentiment was further supported by brokerage firm Centrum Broking, which initiated coverage on the stock with a ‘Buy’ rating.

 

Following these developments, Acme Solar’s share price surged 7.03 per cent to hit an intraday high of ₹272 per share during early trading on Friday. Though the stock pared some gains, it continued to remain elevated.

 

At 09:51 AM, the company’s shares were trading at ₹270.97 apiece on the NSE, reflecting a gain of 6.63 per cent from its previous close of ₹254.12. In contrast, the benchmark NSE Nifty50 index stood at 23,033, down 273 points, or 1.17 per cent. 

Acme Solar commissions wind power project in Gujarat

The upward movement in the company’s share price came after it informed exchanges that ACME Eco Clean Energy Private Limited, a subsidiary of ACME Solar Holdings Limited, has commissioned an additional 4 MW out of its 100 MW wind power project at Village Dhakaniya, Taluka Sayla, District Surendranagar, Gujarat.

 

“With this, ACME Eco Clean Energy Private Limited has achieved a commissioned capacity of 92 MW out of 100 MW,” the company said in a regulatory filing. 

Centrum Broking on Acme Solar

Brokerage firm Centrum Broking has initiated coverage on Acme Solar with a ‘Buy’ rating, citing that the company represents a high-growth renewable IPP play. With a strong project pipeline, improving financial discipline, and increasing exposure to high-value hybrid and RTC segments, the brokerage believes the company is well placed for multi-year capacity and earnings growth.

 

“ACME Solar is emerging as a fast-growing renewable IPP with a diversified portfolio across solar, wind, and hybrid assets. It has a total portfolio of 7,770 MW and 16 GWh of BESS (operational portfolio of 2,962 MW and under-construction portfolio of 4,808 MW/16 GWh BESS). Having transitioned from a developer to a long-term asset owner, the company is now focused on stable capacity build-out and cash flow generation. Its demonstrated execution capability across large utility-scale projects positions it well to participate in India’s accelerating renewable capacity additions,” the brokerage said in its report. 

 

Centrum expects revenue/Ebitda/PAT to grow at a CAGR of 60 per cent/61 per cent/76 per cent over FY25–FY28E.  The brokerage values the company at an EV/Ebitda multiple of 10x on FY28 Ebitda to arrive at a target price of ₹315 per share, implying an upside potential of 16.24 per cent from the current market price.  ======================================= 

(Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.)