Renewable energy company, KPI Green Energy share price has made tremendous gains in 2024 so far, beating its counterparts and broad benchmarks like Sensex and Nifty. On August 3, KPI's stock ended at a 5% upper circuit in an intense bearish market tone. The reason for the uptrend is the company's Q1 results and projects win update.
KPI Green Energy Share Price:
On BSE, the stock ended at Rs 1007.90 apiece, at 5% upper circuit on August 3rd with a market cap of Rs 12,151.77 crore. The stock is closing its gap toward a 52-week high of Rs 1,083.95 apiece.
Meanwhile, KPI's share on NSE stood at Rs 1,012.90 apiece with a market cap of Rs 12,212.05 crore. Its 52-week high here is Rs 1,080 apiece.
YTD, the stock has surged by 111.62% on BSE, and 112.75% on NSE. In a year, the stock zoomed by 267% on BSE, and on NSE the stock gained by 268.5%.
In a year, KPI has outperformed both Sensex and Nifty which gained 24% and 27.5% respectively.
As per Axis Securities, in the last 1 year, KPI Green Energy Ltd has beaten the Nifty 50 by 240.86% (CAGR difference). For 7 out of the Last 12 Months, i.e. 58% of the time it has beaten Index returns.
KPI Green Energy Big Update:
As per the regulatory filing, the company announced that its wholly-owned subsidiary Sun Drops Energia has received Letters of Intent for executing solar power projects with a cumulative capacity of 28.40 MW under the 'Captive Power Producer (CPP)' business segment of the Company.
The projects are scheduled to be completed in the financial year 2024-25, in various tranches as per the terms of the order.
KPI Green Energy Bonus Issue, Stock Split, Dividend:
At the latest, KPI Green turned ex-split for its stock sub-division in the ratio of 1:2. It meant that the company's 1 equity share having a face value of Rs 10 each, split into two equity shares having a face value of Rs 5 each. The record date was in last month.
Before that, the company delivered a 1:2 bonus issue. The company allotted 2,00,94,203 equity shares having a face value of Rs.10/- each as bonus equity shares, in the ratio of One (1) equity share having a face value of Rs. 10/- each for every Two (2) existing equity share having face value of Rs. 10/- each.
Consequently, KPI Green said, the paid-up equity share capital of the Company has increased from Rs. 40,18,84,050/-comprising 4,01,88,405 (Four Crores One Lakh Eighty-Eight Thousand Four Hundred and Five) Equity Shares of Rs. 10/- each to Rs. 60,28,26,080, comprising 6,02,82,608/- equity shares of Rs. 10/- each.
Going ahead, KPI is set to pay dividend rewards as well. The company has announced a final dividend of 2% i.e. Re. 0.20 (Twenty Paisa only) per equity share of the face value of Rs.10/- each for the financial year 2023-24, subject to the approval of the Shareholders at the ensuing Annual General Meeting of the Company.
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