ACME Solar Shares: 30% Profit Is Assured If Bought, Brokerage Claims - These Shares Like Tata Power Are Available At Cheap Prices
Investec has given 'BUY' rating on shares of ACME Solar, with a target price of ₹319, which can give investors a return of up to ₹30.1.
New Delhi. If you want to invest in shares of renewable energy sector, then you can bet on shares of ACME Solar. Because, investment banking firm Investec has given BUY rating on the shares of ACME Solar. Investec has given some special reasons for investing in the shares of this solar company. It is a company established in 2015 which deals in solar, wind, hybrid and renewable energy as a renewable energy company in India.
Shares of ACME Solar are trading more than 4 percent higher on March 27. The current price of the company's stocks is Rs 265. Let us tell you what opinion this share investment banking firm has given.
target price on share
Investec has given 'BUY' rating on shares of ACME Solar and the target price has been kept at Rs 319. This means that investors can get excellent returns of up to 30.1%. The investment banking firm has given some special reasons for the further rise in shares.
Preparing for a Big Change: ACME Solar is no longer just a midsize solar company. It is fast becoming India's leading FDRE (Firm and Dispatchable Renewable Energy) company. The company is preparing to provide 'clean energy' 24 hours a day through hybrid model of solar, wind and battery storage.
Better profits expected: The company's total capacity is expected to increase from 2.5GW in FY25 to 6GW by FY28. Due to this, the company's net profit (PAT) may see a strong annual growth (CAGR) of 69% during the next three years (FY25-FY28).
Cheap Valuations: ACME Solar shares are currently available at very cheap valuations (8x EV/EBITDA) compared to its peers in the stock market.
Projects and future preparations: 5.1GW mega projects: The company has 5.1 gigawatt (GW) of projects under construction. Of these, approximately 79% (4.0GW) are high-margin FDRE projects that will rapidly grow the company's bottom line.
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(Disclaimer: The information given here regarding shares is based on the report of the brokerage firm, it is not an investment advice in any way. Since investing in the stock market is subject to market risks, please consult a certified investment advisor before investing.)