BUZZ — Axis Capital initiates ACME Solar with 'buy' on shift to complex renewable projects

* Brokerage firm Axis Capital initiates coverage of renewable energy firm ACME Solar Holdings with "buy" rating and sets TP of 550 rupees * Axis Capital says ACME is transitioning from a "plain vanilla" solar independent power producer, with 3 GW operational capacity, to a complex renewable-energy project developer * Says ACME expects to commission first complex project by December 2026 * Brokerage expects full portfolio to be operational by FY30E, assuming a one-year delay due to industry-wide transmission constraints * Says RE capacity to see 3x growth and 17GWh of BESS addition for these projects and estimates EBITDA to grow at a 38% CAGR over FY26-31E * ACME shares up 72.6%, YTD (Reporting by Payel Das in Bengaluru) ((Payel.das@thomsonreuters.com)