1:2 bonus shares & 8,800 per cent returns: Heavy buying witnessed in this power stock; bags new order from Pruthvi Textile
The stock gave multibagger returns of 465 per cent in just 1 year whereas BSE Sensex Index is up by 20 per cent.
KPI Green Energy Ltd informed that KPIG Energia Private Limited, a wholly-owned subsidiary of the company has bagged a new order of 1.5 MW for executing a solar power project under the ‘Captive Power Producer (CPP)’ Segment from Pruthvi Textile. The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
The Board of Directors of the company ex-traded bonus shares wherein the company will issue bonus equity shares of the company in the proportion of 1 equity shares of Rs 10 each for every 2 existing equity shares of Rs 10 each as of record date. The ex-date for 1:2 bonus shares was Thursday, February 15, 2024. The new bonus equity shares allotted shall rank pari-passu in all respects with the existing equity shares in the company.
Earlier, the company bagged a new order of 5.60 MW for executing a solar power project that has been received by KPIG Energia Private Limited, a wholly-owned subsidiary of the Company under the ‘Captive Power Producer (CPP)’ Segment of the Company. The order is received from Shree Varudi Paper Mill LLP and projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
Order Book Update - During the H1FY24, on a Consolidated basis, the Company has energised a total of 33.00+ MW resulting in the cumulative consolidated capacity energised at 346+ MW. Company during H1F24 have bagged the single largest order of Hybrid CPP of 145.20 MW and has also won a 240 MW DC bid from GUVNL under the IPP Segment. With these, the total order book on hand at gross level stands at 541+ MW inching the company closer to its ambitious target of 1,000 MW by the financial year 2025.
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Today, shares of KPI Green Energy Ltd were locked in a 5 per cent upper circuit to Rs 1,637.9 per share from its previous closing of Rs 1,559.95. The stock also made a fresh new 52-week high of Rs 1,637.90 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs. The stock gave multibagger returns of 465 per cent in just 1 year whereas BSE Sensex Index is up by 20 per cent. Furthermore, the stock generated 1,100 per cent returns in 2 years and a whopping 8,800 per cent in 3 years.
KPI Green Energy Ltd is a solar power powerhouse, operating as both an independent producer and a trusted EPC partner for captive power producers. With a market cap exceeding Rs 9,873.69 crore, it is a major player in India's renewable energy landscape. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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