Power Stock To Reward Shareholders With Bonus Shares This Week After 210% YTD Gain

On Friday, the shares of KPI Green Energy opened higher at Rs 1371.40 apiece level and reached to an intraday high at Rs 1399 logging a gain of 4.88% from the previous close of Rs 1334.60. KPI Green Energy is one of the stocks of Dalal Street which has rewarded its shareholders with multibagger returns in 2023 as the scrip has gained 210% on a YTD basis. However, the firm will give its shareholders another cherish before 2024 officially begins, as the Board of Directors will convene on Saturday, December 30, 2023, to discuss and approve bonus shares.

"We wish to inform you that, pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, December 30, 2023 at the Registered Office of the Company, inter alia, to transact the following matters: 1.To consider the proposal for issue of bonus equity shares to the shareholders of the Company; 2. To consider and approve increase in authorized share capital of the company inter alia to accommodate issue of bonus equity shares, if any; 3. To consider and approve the appointment (regularisation) of Mr. Amitkumar Subhashchandra Khandelwal (DIN: 09287996) as Non-Executive Non-Independent Director of the Company; 4. To consider and approve the appointment (regularisation) of Dr. Tejpalsingh Jagatsingh Bisht (DIN: 02170301) as Non-Executive Independent Director of the Company; 5. Any other matter with the permission of the Chairman," said KPI Green Energy in a stock exchange filing.

It was recently revealed that KPI Green Energy Limited and its wholly-owned subsidiary, KPIG Energia Private Limited, have successfully commissioned solar power plants totalling 17.35 MWp. As part of the company's 'Captive Power Producer (CPP)' business domain, these projects were carried out on behalf of respected clients, Jay Metal Tech, Reenam Fabrics Pvt. Ltd., JPB Fibers, and Creative Technologies. Additionally, the Chief Electrical Inspector's (CEIG) approvals have been acquired in the names of the corresponding clients.

KPI Green Energy reached a 52-week-high of Rs 1,448.00 on (29/12/2023) and a 52-week-low of Rs 388.55 on (29/03/2023), indicating that at the current market price, the scrip has gained 270% from its 1 year low in 9 months. In the last 1 year, the stock has given a multibagger return of 224.83% and on a YTD basis, the scrip has gained 209.17% so far in 2023.