Heavy buying: Back-to-back upper circuit in this multibagger solar power stock; gains over 12,000 per cent!

Shares of the company gained more than 150 per cent in the last six months.

Shares of KPI Green Energy Limited were locked in the upper circuit on Wednesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained more than 150 per cent.

KPI Green Energy Limited is part of KP Group. They develop, build, own, manage, and maintain renewable power facilities (solar and wind-solar hybrid power projects) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the ‘Solarism’ brand. In order to have a wider geographical reach the company has signed a Memorandum of Understanding (MoU) with the Government of Uttarakhand to set up a 500 MW Solar Power Project.

The company posted robust Quarterly Results. The revenue of the company for Q4FY24 stood at Rs 289.36 crore which increased by 58.64 per cent YoY. The operating profit of the company stood at Rs 96.48 crore, while the PAT of the company stood at Rs 43.04 crore, from a profit of Rs 31.78 crore last year same quarter.

The shares of KPI Green Energy Limited have also delivered multibagger returns to its shareholders in the last three years. During this period, the company's share price surged from Rs 15.75 on May 21, 2021, to Rs 1973.60 on May 15, 2024, representing an increase of about 12,000 per cent in a three-year holding period.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.