The ACME Solar shares surged 3% today and extended the 10% gains seen over the last 3 months. Nuvama maintains a Buy on ACME Solar Holdings with a target price of Rs 360 per share. This implies a whopping 35% upside from current levels for the ACME Solar share price The company has been in news after winning the bid for Madhya Pradesh’s first solar storage project at record low tariff rates.

Additionally, Nuvama pointed out that India aims to achieve 500GW of installed renewable energy capacity by 2030. This is expected to support the share price. The other key factors supporting the positive call on the stock include the tripling of tendering activity between FY23- FY24, led by higher government targets, innovative solutions and increased power sector investments.

Nuvama On ACME So

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