1:2 Bonus Issue: Heavy Buying Renewable Energy Stock Hits Upper Circuit – Here's Why

The company’s shares have delivered impressive multibagger returns of over 230 per cent in just 1 year.

KPI Green Energy Ltd, a prominent player in India's renewable energy sector and part of the KP Group, has achieved a major milestone with the final sanctioning of financial assistance amounting to Rs 686 crore for its latest solar power endeavour. This funding, secured through credit facilities, marks a crucial step forward in the development of a 200 MWAC (240 MWDC) Solar Photovoltaic Power Project located in Khavda, Kutch District, Gujarat.

KPI Green Energy Ltd had previously raised Rs 300 crore through a Qualified Institutional Placement (QIP), utilizing Rs 225 crore from this to partially fund the Khavda project. With the additional financial support now secured, KPI Green Energy is well-positioned to expedite the completion of this ambitious renewable energy initiative within the stipulated timeframe.

At the start of the day's trading session, the stock opened at Rs 1754 per share, compared to the previous day's closing figure of Rs 1718.70 per share on the BSE. Finally, the shares closed at Rs 1804.60 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. The current market capitalization of KPI Green Energy Ltd stands at Rs 10878 crore. The stock has delivered a multibagger return of around 230 per cent in just 1 year only.

Investors must keep this Small-Cap stock on their radar.

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