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Acme Solar shares rose nearly 6 percent on Monday, defying the broader market weakness.
HSBC initiated coverage on Acme Solar with a 'buy' rating and a Rs 350 target price.
KEY POINTS
- HSBC projects Acme Solar's EBITDA to grow at a 72% CAGR between FY26 and FY28.
- Acme Solar plans to increase its generation capacity by 2.7 times in the next 2-3 years.
- The company is shifting from pure solar to firm, dispatchable renewables combining solar, wind, and storage.
- Working capital days improved significantly from 93 to 23 in FY24 due to lower receivables.
COMPANIES
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