Small Cap Power Stock Hit 5% Upper Circuit On Order From NTPC Renewable Energy Ltd

KP Energy Ltd's shares on Thursday, hit 5% upper circuit after the company announced that it has been awarded the contract through the Notification of Award (NOA) for the development of a 464.10 MW Balance of System Package in the state of Gujarat. The development will be done for an Inter-State Transmission System (ISTS) Connected Wind Energy Project.

Through an open bidding process, NTPC Renewable Energy Ltd. awarded the contract. The company's business segment known as "Captive Power Producer (CPP)" includes this project. The Company will offer a wide variety of services, such as Engineering, Procurement, Construction, and Commissioning (EPCC).

The company in an exchange filing stated, "KP Energy Limited (referred to as "the Company") has been awarded contract(s) through the Notification of Award (NOA) for the development of a 464.10 MW Balance of System Package for an Inter-State Transmission System (ISTS) Connected Wind Energy Project to be developed in the state of Gujarat. These contract(s) have been awarded by NTPC Renewable Energy Limited (NTPC REL) through a competitive bidding process. This project falls under the Company's 'Captive Power Producer (CPP)' business segment."

Company further stated, "Under these contract(s), the Company will provide a comprehensive range of services, including Engineering, Procurement, Construction, and Commissioning (EPCC). These services encompass the acquisition and transfer of land for the project, the supply of all necessary equipment for the balance of plant, and the provision of various services related to unloading, storage, on-site handling, installation, insurance, civil and allied works, integration into the grid, testing and commissioning. Additionally, the Company will be responsible for the operation and maintenance of the contract scope for a duration of three years."

Stock Performance

KP Energy Limited stock Thursday closed at Rs 537.80 apiece after it hit 5% upper circuit on the BSE. It surged 2.82% in the last 1 week.

The stock has given 23.59% robust return in 1 month, and 269.37% multibagger return in 6 months. It has given 168.26% multibagger return in 1 year. It gave 1,419.21% multibagger return in 3 years, and 304.36% positive return in 5 years.

Stock's 52-week high price is Rs 600 apiece and the 52-week low price is Rs 143.05 apiece. The market valuation of the stock is Rs 1,195.53 Crore.

About - KP Energy Ltd.

KP Energy Ltd. is a Power sector small-cap company. The company operates in the Wind Energy industry. The company engages throughout the development process of wind farms, right from conceptualization until the commissioning of the project. The company undertakes projects principally in Gujarat.