New Delhi, July 8 -- Solar energy stock ACME Solar Holdings has emerged as a promising player in India's renewable energy landscape, and Elara Capital believes the company is well-positioned to benefit from the country's aggressive push toward clean energy. In its latest report, the brokerage initiated coverage on ACME Solar with a 'Buy' rating and a target price of Rs.325, implying a potential upside of 27.5 percent from current levels.

Elara Capital said India's renewable energy sector is entering a transformative phase, with the government aiming to ramp up installed renewable capacity to 500GW by FY30 from the existing 220GW. Solar energy is expected to lead this transition, with India already having added 103GW of solar capacity bet...