KPI Green Energy, a renewable energy company, will in focus during the trading week from July 8th to 12th after signing an agreement for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam Limited (GUVNL). This comes ahead of KPI Green's first ever stock sub-division for which the record date is fixed in the coming days. KPI Green is a multibagger with gains of more than 210% in 12 months.
KPI Green Share Price:
The stock price stood at Rs 1781.75 apiece on BSE with market cap of Rs 10,740.85 crore on July 5th, which was also the day it won the latest project.
KPI Green stock has surged by over 87% on BSE year-to-date. While in a year, the stock rallied by 213.62%. The stock was below Rs 570 levels a year ago.
The stock's 52-week high and low is at Rs 2,109.25 apiece and Rs 496.92 apiece respectively.
KPI Green Energy Big Update:
As per the regulatory filing, KPI Green has successfully signed a Power Purchase Agreement (PPA) for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam Limited (GUVNL).
This project, comprising of 50 MW Solar and 16.80 MW Wind, was awarded through a competitive bidding process.
KPI Green said, "We are honored to play a part in delivering environmentally friendly and sustainable renewable energy to the nation. This achievement bolsters and speeds up our efforts to reach our ambitious goal of 1000 MWp capacity by 2025."
Also,in the start of July month, KPI received approvals from the Chief Electrical Inspector (CEIG) for 15 MW of solar power projects under its 'Captive Power Producer (CPP)' business segment. These projects were executed for its esteemed clients of M/s. KPIG Energia Private Limited and M/s. Sun Drops Energia Private Limited, wholly owned subsidiaries companies of the Company. Furthermore, the approval from the Chief Electrical Inspector (CEIG) has been received in the names of the respective clients.
KPI Green Energy Stock Split:
The company has fixed Thursday, July 18, 2024 as the 'Record Date' for determining the eligibility of Shareholders for subdivision/split of equity shares having a face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 2 (Two) equity shares having a face value of Rs. 5/- (Rupees Five only) each fully paid-up.
The stock split is in the ratio of 2:1 and is the first of KPI Green who has a track record of paying dividends and bonus issues up till now.
Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.
KPI Green Bonus Issue:
Earlier in February, 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.
KPI Green Dividend:
KPI has also 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.
BUY/SELL KPI Green Stock:
As per Trendlyne data, the consensus recommendation from 1 analyst for KPI Green Energy Ltd. is STRONG BUY. EPS is expected to grow by 114.9% in FY25. However, the target price is not yet announced.
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