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Acme Solar shares rose nearly 6 percent after HSBC's "buy" rating., HSBC expects Acme Solar's EBITDA CAGR of 72% over FY26–FY28., Acme Solar's capacity set to rise 2.7 times in next 2–3 years.

* Acme Solar shares rose nearly 6 percent after HSBC's "buy" rating.
* HSBC expects Acme Solar's EBITDA CAGR of 72% over FY26–FY28.
* Acme Solar's capacity set to rise 2.7 times in next 2–3 years.

Acme Solar shares jumped nearly 6% after HSBC initiated coverage with a "buy" rating and a Rs 350 target, citing strong growth prospects, improved working capital, and transition to firm renewable projects. Clean Max shares also rose after HSBC's "buy" call.

shorts/business/acme-solar-shares-rise-up-to-6-as-hsbc-initiates-coverage-with-buy-rating

Acme Solar shares rose nearly 6 percent on Monday, defying the broader market weakness, after HSBC initiated coverage on the renewable energy company with a &quot;buy&quot; rating.

The stock settled higher after hitting an intraday high of Rs 289.15 per share on the NSE, up 7.63 percent. The gain comes after four consecutive sessions of decline.

HSBC initiated coverage with a target price of Rs 350, and said it expects EBITDA to grow at a compound annual growth rate (CAGR) of 72 percent over FY26–FY28.

According to the brokerage, ACME Solar Holdings is a fast-growing renewable energy independent power producer with fully integrated operations across engineering, procurement and construction, as well as operations and maintenance.

The company currently operates around 3 GW of generation capacity. Its projects are expected to increase overall capacity by about 2.7 times over the next two to three years. It also has an additional 1.8 GW of awarded projects awaiting conversion into power purchase agreements.

HSBC said the company is transitioning from a pure-play solar provider to firm and dispatchable renewable energy projects, which combine solar, wind and battery storage.

The brokerage noted that earnings visibility remains strong, with 84 percent of the contracted portfolio tied to 25-year fixed tariff power purchase agreements backed by central government agencies.

It added that the company is well placed to benefit from early adoption of battery energy storage systems and firm and dispatchable renewable energy projects.

Working capital improved to 23 days from 93 days in FY24, driven by a decline in receivables, strengthening confidence in its balance sheet, the brokerage said.

HSBC highlighted key risks including high leverage due to an 80:20 debt-equity financing structure, potential rise in equipment and borrowing costs, delays in commissioning of projects, and lower-than-expected generation.

Meanwhile, HSBC also initiated coverage on Clean Max with a &quot;buy&quot; rating. Shares of the company settled 3.28 percent higher at Rs 890 per share on the NSE.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Acme Solar shares rise up to 6% as HSBC initiates coverage with 'Buy' rating

Swiggy shares fell 4.42 percent amid West Asia tensions., Co-founder Nandan Reddy stepped down as director at Swiggy., Restaurant stocks declined due to rising fuel and LPG costs.

* Swiggy shares fell 4.42 percent amid West Asia tensions.
* Co-founder Nandan Reddy stepped down as director at Swiggy.
* Restaurant stocks declined due to rising fuel and LPG costs.

Shares of Swiggy and other food delivery and restaurant firms fell amid West Asia tensions and Strait of Hormuz uncertainty, raising crude prices and logistics costs. Swiggy also saw leadership changes, with co-founder Nandan Reddy stepping down as director.

shorts/business/eternal-swiggy-devyani-international-shares-decline-up-to-4-here-s-why

Shares of food delivery and restaurant firms declined in Monday’s trade, with Swiggy falling the most among the pack.

Swiggy shares dropped 4.42 percent to an intraday low of Rs 262.85 per share on the NSE. The stock had opened lower by 3.2 percent.

The decline came amid renewed tensions in West Asia and uncertainty over the opening of the Strait of Hormuz following inconclusive Iran-US peace talks, which led to a surge in crude oil prices. Higher fuel costs can raise logistics and delivery expenses, while elevated input costs for restaurants may weigh on margins, impacting related stocks.

The fall also follows the company’s announcement on Friday that co-founder Nandan Reddy has stepped down as whole-time director and head of innovation. The company said he will relinquish his board position to pursue other professional interests.

Swiggy said its board has approved the appointment of Renan De Castro Alves Pinto as nominee director, succeeding Roger Rabalais, representing Prosus Ventures. It also approved the appointment of co-founder and chief growth officer Phani Addepalli and group chief financial officer Rahul Bothra as additional directors with effect from June 1.

&quot;Nandan has been a vital collaborator and a visionary force throughout Swiggy’s evolution — from our beginnings in a single Bengaluru neighbourhood to becoming a nationwide platform serving millions,&quot; Swiggy Group Chief Executive Officer Sriharsha Majety said. &quot;While his daily presence will be missed, I look forward to the impact of his future endeavours.&quot;

Meanwhile, shares of Eternal declined 2.37 percent to Rs 234.53 apiece on the NSE after opening 2.18 percent lower.

Quick service restaurant and franchise operators also traded in the red. Devyani International and Jubilant FoodWorks fell 1.59 percent and 1.36 percent, respectively, while Westlife Foodworld declined up to 2 percent. Restaurant Brands Asia also saw losses.

The ongoing conflict in West Asia has triggered a shortage of liquefied petroleum gas (LPG) in India, following disruption in the Strait of Hormuz, a key maritime route through which a large share of the country’s LPG imports pass.

Any disruption in LPG supplies could affect operations of a majority of restaurants, as most rely on it as their primary cooking fuel.

According to the US Central Command, the blockade would be enforced against vessels entering or departing Iranian ports and coastal areas, while ships travelling between non-Iranian ports would be allowed to transit through the Strait of Hormuz.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Eternal, Swiggy, Devyani International shares decline up to 4%; here's why

Home appliance stocks climbed as oil surpassed $100 a barrel., Bajaj Electricals, Butterfly, Stove Kraft rose up to 3%., TTK Prestige, Hawkins fall even as sector advances.

* Home appliance stocks climbed as oil surpassed $100 a barrel.
* Bajaj Electricals, Butterfly, Stove Kraft rose up to 3%.
* TTK Prestige, Hawkins fall even as sector advances.

Shares of household appliance firms rose up to 3% as demand for induction cooktops and electric kettles increased, driven by crude oil prices surpassing $100 amid geopolitical tensions and US plans to blockade Iranian ports, disrupting oil shipping routes.

shorts/business/bajaj-electricals-other-domestic-appliances-firms-shares-rise-up-to-2-5-as-crude-reclaims-100

Shares of household appliances companies rose by up to 2.5 percent on Monday, tracking a pick-up in demand for induction cooktops and electric kettles as crude oil prices reclaimed the $100 mark.

Bajaj Electricals shares rose over 2 percent to Rs 375.50 per share on the NSE.

Butterfly Gandhimathi Appliances, backed by Crompton Greaves Consumer Electricals, gained up to 1 percent on the exchange.

Stove Kraft advanced 3 percent. Meanwhile, TTK Prestige and Hawkins Cookers declined 0.82 percent and 0.72 percent, respectively.

The rise in these stocks comes as oil prices resumed their upward trend amid geopolitical tensions. Cooking gas (LPG) prices are closely linked to crude oil. When crude rises, LPG cylinders become more expensive. As gas cooking gets costlier, consumers look for cheaper or more predictable options like induction cooktops and electric kettles, which run on electricity.

The US military is preparing to blockade ships entering or leaving the Strait of Hormuz, where shipping activity has been largely stalled by Iran since the start of the war.

US President Donald Trump announced the planned blockade after ceasefire talks between the US and Iran in Pakistan ended without an agreement. The US military said the blockade involving all Iranian ports would begin on Monday.

Oil prices have been rising as shipping through the strait has remained disrupted since late February. Brent crude, the international benchmark, has surged from about $70 per barrel before the war to over $119 at times.

On Monday, benchmark US crude jumped $8.38, or 8.7 percent, to $104.95 a barrel. Brent crude rose $7, or 7.4 percent, to $102.23 a barrel.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Bajaj Electricals, other domestic appliances firms' shares rise up to 2.5% as crude reclaims $100; here's why

Banking shares fell as Bank Nifty dropped over 2 percent., PSU banks led losses, falling up to 4 percent., State Bank of India was the top laggard, down 2.5 percent.

* Banking shares fell as Bank Nifty dropped over 2 percent.
* PSU banks led losses, falling up to 4 percent.
* State Bank of India was the top laggard, down 2.5 percent.

Banking shares fell sharply Monday, with Bank Nifty dropping over 2% amid inflation fears from high crude prices. PSU banks led losses, falling up to 4%. SBI, HDFC Bank, and IndusInd Bank were major laggards. Support levels are seen at 54,300 and 53,000.

shorts/business/bank-nifty-crashes-up-to-2-5-as-crude-surges-above-100-psu-banks-lead-losses-what-lies-ahead

Banking and financial shares declined on Monday, dragging the Bank Nifty index down over 2 percent, as elevated crude oil prices raised concerns over inflation and the possibility of tighter monetary policy.

PSU banks led the losses, falling up to 4 percent.

The Nifty Bank index underperformed the benchmarks, dropping about 2.8 percent intraday. It fell 1,556.55 points to hit a low of 54,356.20, making it among the worst-performing sectoral indices during the session.

The Nifty PSU Bank index declined 2.24 percent, while the Nifty Private Bank index fell 1.37 percent.

Among individual stocks, State Bank of India was the top laggard on the Bank Nifty index, declining up to 2.5 percent.

HDFC Bank and IndusInd Bank also fell up to 2.47 percent and 1.85 percent, respectively.

In the PSU banking space, Union Bank of India, Bank of India, Bank of Maharashtra and Punjab National Bank declined up to 4 percent.

In the private banking pack, HDFC Bank, Axis Bank and Kotak Mahindra Bank were among the major laggards, falling up to 2.5 percent.

Commenting on the outlook, Ajit Mishra, SVP, Research at Religare Broking, said the banking index had earlier participated in the upmove, gaining around 8.5 percent, supported by both private and PSU banks.

He said the index may retest its long-term moving average (200 DEMA) near 56,700, followed by a move towards 57,800.

On the downside, the short-term moving average (20 DEMA) is expected to act as the first support at 54,300, followed by a support level near 53,000, he added.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Bank Nifty crashes up to 2.5% as crude surges above $100; PSU banks lead losses: What lies ahead?

Indian equities opened weaker on April 13, with several stocks witnessing sharp moves on both sides even as the broader market remained range-bound amid rising global tensions and a spike in crude oil prices.

Benchmark indices came under pressure, with most Sensex and Nifty stocks trading in the red. In the auto pack, Eicher Motors and Maruti Suzuki India were the biggest losers, falling more than 4 percent each. InterGlobe Aviation declined 3 percent, while Shriram Finance and State Bank of India lost more than 2 percent each.

Midcap and smallcap stocks, however, continued to see selective buying interest. Among midcaps, Tata Investment Corporation rose 4 percent, while Waaree Energies gained 3 percent. JSW Energy and Premier Energies advanced 2 percent each.

In the smallcap space, Tata Chemicals jumped 7 percent, while Ather Energy gained 4 percent.

On the downside, among midcaps, Bank of India and Polycab India were the biggest losers, down 3.5 percent each. Mahindra and Mahindra Financial Services and APL Apollo Tubes lost 3.2 percent each, while Ashok Leyland and Hindustan Petroleum Corporation declined 3 percent each.

Among smallcaps, Jyoti CNC Automation plunged 13 percent, while Ola Electric Mobility fell 6 percent. Signatureglobal India and Afcons Infrastructure slipped 3 percent each.

Sectorally, PSU banks and auto stocks were the biggest laggards, declining 2 percent each. IT, FMCG and realty indices also fell 1.5 percent each. Market breadth remained weak, with 1,298 stocks advancing against 2,628 declines on the BSE, pointing to selective buying.

Indian markets tracked weakness in global equities after President Donald Trump ordered a blockade of the Strait of Hormuz, escalating tensions with Iran after weekend peace talks collapsed.

Global sentiment remained fragile amid fears of an energy supply shock. Oil prices surged 7 percent to $107 per barrel after Trump said the US would interdict any vessel that had paid a toll to Iran for safe passage through Hormuz. Before the conflict, nearly one-fifth of the world’s crude oil and liquefied natural gas trade passed through the strait.

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Acme Solar shares rise up to 6% as HSBC initiates coverage with 'Buy' rating

Eternal, Swiggy, Devyani International shares decline up to 4%; here's why

Bajaj Electricals, other domestic appliances firms' shares rise up to 2.5% as crude reclaims $100; here's why

Bank Nifty crashes up to 2.5% as crude surges above $100; PSU banks lead losses: What lies ahead?

Price action: Tata Chemicals, Tata Investment, Waaree Energy rally; Jyoti CNC, Ola Electric, Eicher Motors slide

Auto Ancillary Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Auto Ancillary industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-undefined

Stock News

Acme Solar shares rise up to 6% as HSBC initiates coverage with 'Buy' rating

Eternal, Swiggy, Devyani International shares decline up to 4%; here's why

Bajaj Electricals, other domestic appliances firms' shares rise up to 2.5% as crude reclaims $100; here's why

Bank Nifty crashes up to 2.5% as crude surges above $100; PSU banks lead losses: What lies ahead?

Price action: Tata Chemicals, Tata Investment, Waaree Energy rally; Jyoti CNC, Ola Electric, Eicher Motors slide

Auto Ancillary Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Auto Ancillary industry stocks.