KPI Green Energy Ltd: Shares of KPI Green Energy were in discussion during trading today on Monday. Today the company’s shares rose by 4.5% to reach an intraday high of Rs 1863.65. There is a deal behind this rise in shares. In fact, the company has signed a power purchase agreement (PPA) with Gujarat Energy Development Corporation (GUVNL) for a 50MW solar-wind hybrid power project. After this news was given to the stock market, buying in its shares increased.
share in constant focus
Last week, KPI had received approval from the Chief Electricity Inspector (CEIG) for its 13.60 MW solar power projects under the Independent Power Producer (IPP) segment. These projects will be added to its power generation asset portfolio through its wholly owned subsidiary Sun Drops Energia. Apart from this, KPI has also received CEIG approval for 15 MW of solar power projects under its Captive Power Producer (CPP) business segment. Let us inform you that in May, the company board had approved the proposal to raise up to Rs 1,000 crore by issuing shares through qualified institutional placement. This is subject to approval from shareholders.
Announcement of giving 1 share for free, there was loot to buy shares, the price came at ₹ 20
Stock giving bumper returns
KPI Green Energy shares have made a great start to the year, gaining up to 95 per cent so far. This stock has made huge profits of up to 250% in the last one year and up to 950% in the last five years. Its 52 week high price is Rs 2,109.25 and 52 week low price is Rs 496.92. The market cap of the company is Rs 11,083.86 crore.
Change in management overnight, share crash in the morning, rush to sell started, came down to ₹ 60
company business
Gujarat-based KPI Green Energy Limited (formerly KPI Global Infrastructure Limited) is a leading renewable energy producer. KPI Green Energy develops and maintains grid-connected solar energy projects and sells power units generated from its solar plants.
