KPI Green Energy wins its largest order, shares gain 

Shares of KPI Green Energy Ltd rallied nearly 4% today after the company said it received largest-ever order worth Rs 1,311 crore from Coal India. KPI Green Energy stock climbed 3.94% to Rs 810 in the current trading session. The power stock opened higher at Rs 808 against the previous close of Rs 779.25 on BSE. KPI Green Energy shares have gained 430.64 % in two years and risen 110% in a year. The stock has climbed 71.70% in two years.

A total of 0.80 lakh shares of the firm changed hands, amounting to a turnover of Rs 6.41 crore on BSE. Market cap of the company stood at Rs 10,652 crore on BSE.

The stock hit a record high of Rs 1116 on August 12, 2024 and a fell to 52-week low of Rs 375.19 on August 2, 2023. 

In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 49.7, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 10 day, 20 day, 30 day, 50 day but lower than the 100 day, 150 day and 200 day moving averages.   

The company will set up 300 MWAC (405 MWDC) Ground mounted Solar PV plant including Operation & Maintenance (O&M) services on comprehensive basis for five years on an engineering, procurement, and construction basis at GIPCL’s Solar Park, Khavda, Gujarat.

Alok Das, Group CEO, said, “We are immensely proud to have been entrusted with this monumental project, which marks a new era of growth for KPI Green Energy and KP Group as a whole. This order is a validation of our capabilities, dedication, and the trust our clients place in us. We are committed to delivering this project within the stipulated timeline while upholding our promise of innovation and sustainability. This project embodies our endeavor to achieve the ambitious group target of reaching 10 GW capacity by 2030."

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.