ACME Solar Holdings was in focus on Wednesday after rating agency ICRA assigned ICRA AA- rating to Rs 1,000 crore long term-non fund based bank facilities of the company, with stable outlook. The stock was also in focus after MOFSL came out with a note on ACME Solar with Buy rating and a target that suggests 34 per cent potential upside, while suggesting a pick-up in power demand and government push to resolve PPA deadlock as key catalysts. Advertisement

ICRA's rating was the highest credit rating received by Acme Solar till date from any credit rating agency, and is seem potentially enable reduction in cost of debt in the company and its subsidiaries.

ACME Solar stock opened the day at Rs 278.60 on BSE, up 0.78 per cent. ICRA attributed the rating to ACME Solar’s diversified portfolio

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