Heavy buying: Back-to-back upper circuit in this multibagger solar stock; gains over 5000 per cent!

Heavy buying: Back-to-back upper circuit in this multibagger solar stock; gains over 5000 per cent!

Praveenkumar Yadav

Shares of the company gained more than 100 per cent in the last six months.

Shares of KPI Green Energy Limited were locked in the upper circuit on Tuesday, gaining 10.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock also made a fresh 52-week high of Rs 1,388.05.

Recently, KPI Green Energy subsidiary KPIG Energia received new orders for 1.75 MW solar power projects under the CPP segment. This brings their total CPP orders to over 149 MW. The projects are awarded by domestic entity Citizen Umbrella Manufacturers Limited. and will be completed in tranches during FY2024-25.

Also read, This multibagger shipbuilding company bags new order worth Rs 1,145.10 crore

The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 215.07 crore which increased by 34.55 per cent YoY. The operating profit of the company stood at Rs 72.04 crore, while the PAT of the company stood at Rs 34.74 crore, which increased by 64.22 per cent on a YoY basis.

KPI Green Energy Limited has delivered multibagger returns of over 4100 per cent in the last three years. While in the last one year, the stock has gained over 200 per cent. FIIs have increased their stake in the company to 4.24 in September 2023 respectively.

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 a service provider to Captive Power Producer (CPP) customers.

Investors should keep a close eye on this stock.

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

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