On Wednesday, shares of its peer companies, Waaree Energies, and Premier Energies had gained up to 10%.
The US-Iran war has escalated to the extent of both Iran and Israel attacking energy infrastructure, including the world’s biggest gas fields, located in Iran and Qatar.
QatarEnergy, one of the biggest producers of LNG globally, has already declared a Force Majeure, while other gulf nations have already begun cutting back on production due to security and storage worries.
This has put the spotlight on the renewable energy sector, as countries like India, where the government has already laid emphasis on the sector.
On Wednesday, the Ministry of New and Renewable Energy has expanded the order on approved list of model manufacturers (ALMM) to introduce ALMM List-III for ingots and wafers, which will take effect from June 1, 2028.
Wafers are the critical intermediate stage between polysilicon and solar cells. India currently has limited domestic wafer manufacturing capacity and relies substantially on imports.
The move aims to boost domestic production, enhance supply chain resilience, reduce import dependence, and ensure higher quality standards across the solar value chain. You can read more on this development here.
Shares of ACME Solar are the second-best performers on the Nifty 500 index, trading with gains of 5%, while those of NTPC Green Energy are trading with gains of 2%.
The recent rally seen in these stocks, have led to all of them turning positive on a year-to-date basis. ACME Solar shares are up 10% so far in 2026, while Premier, Waaree and NTPC Green Energy are up between 4% to 8% so far in 2026.
