KPI Green Energy shares rise 3% as firm wins fresh order

Shares of KPI Green Energy Ltd are in focus today after the firm said its arm KPIG Energia Private Limited has received a new order of 2 MW for executing solar power project under its ‘Captive Power Producer (CPP)’ segment. The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order  

KPI Green Energy stock gained 3% to Rs 1540.05 on BSE. The power stock opened higher at Rs 1540.05 against the previous close of Rs 1495.30 on BSE. KPI Green Energy shares have gained 5.88% in 2024 and risen 251% in a year.  The stock has zoomed 642% in two years.   

A total of 4336 shares of the firm changed hands, amounting to a turnover of Rs 66.07 crore on BSE. Market cap of the company rose to Rs 6081.91 crore on BSE.    

The stock hit a record high of Rs 1543.75 on January 11, 2024 and a 52-week low of Rs 388.55 on March 29, 2023.     

In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 68.3, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.       

The company’s board approved its proposal for issue of bonus equity shares in the ratio of 1:2 last year. The record date for the issue of bonus shares is yet to be determined.  

KPI Green issued bonus shares to its shareholders for the second time in 2023. It issued one bonus share for every one held in January 2023. 

KPI Green Energy is a solar power generating company focused on providing solar power both as an Independent Power Producer (IPP) under the brand name of `Solarism' and as service provider to Captive Power Producer (CPP) customers.     

 

 

 

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