ACME Solar Holdings Sees Reversal Amid Ongoing Volatility in Renewable Sector

Jan 29 2025 09:35 AM IST
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ACME Solar Holdings experienced a notable uptick on January 29, 2025, reversing a trend of eight consecutive days of decline. The stock outperformed its sector, despite trading below key moving averages and facing a significant decline over the past month, reflecting ongoing market volatility.
ACME Solar Holdings, a midcap player in the renewable energy sector, has shown notable activity today, gaining 5.6% on January 29, 2025. This uptick comes after a challenging period, marking a trend reversal following eight consecutive days of decline. The stock reached an intraday high of Rs 184.7, reflecting a 6% increase during the trading session.

In terms of performance metrics, ACME Solar Holdings outperformed its sector, which saw a gain of 4.83%, by 1.9%. However, it is important to note that the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term downward trend.

Over the past month, ACME Solar Holdings has experienced a decline of 23.05%, contrasting with the Sensex's decrease of 3.28%. Today's performance, while positive, highlights the ongoing volatility and challenges faced by the company within the broader market context.
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