HSBC has taken a positive view on India’s renewable energy sector, initiating buy ratings on ACME Solar Holdings and Clean Max Enviro Energy Solutions, and highlighting strong upside potential in select green energy stocks.
The brokerage expects ACME Solar Holdings to benefit from India’s rapid expansion in solar and hybrid power capacity. It has assigned a buy rating with an estimated upside of around 28%, driven by rising corporate demand for clean electricity and supportive policy measures.
Shares of ACME Solar saw renewed investor interest after the coverage update, reflecting growing market confidence in large-scale renewable developers.
HSBC is also upbeat on Clean Max Enviro Energy Solutions, a leading supplier of renewable power to commercial and industrial clients. The company, which is preparing for its upcoming IPO, is seen as well-placed to tap rising demand from businesses shifting toward sustainable energy sources.
Clean Max operates in the fast-growing corporate green power segment, where long-term contracts with large firms provide steady revenue visibility. The brokerage believes this model, combined with India’s energy transition push, could support strong growth ahead.