Power stock is 217% above 52-week-low, record date fixed for 1:1 bonus shares

Power stock is 217% above 52-week-low, record date fixed for 1:1 bonus shares

Market


KPI Green Energy Ltd. is a small-cap company with a market capitalization of Rs. 1,638.32 Cr. It operates in the nation’s power sector. In the solar sector for more than ten years, KPI Green Energy has about 60MWs of operating capacity and 40MWs of capacity under construction.

The company’s Board of Directors said today in a stock exchange filing that “Pursuant to Regulation 42 of Listing Regulations, the Company has fixed Wednesday, January 18, 2023 as the ‘Record Date’ for the purpose of determining the names of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up equity share of Rs. 10/- each for every 1 (One) fully paid-up equity share of Rs. 10/each held by the existing Members of the Company.”

They further said that the record date has been fixed for the purpose of determining the names of members who shall be entitled for allotment of bonus equity shares if approved by members of the company.

The Board of Directors of the company also said today in a stock exchange filing that “we are pleased to announce that KPI Green Energy Limited (the Company) is developing Solar Power Projects aggregating 24.90 MWp capacity from various captive customers under the ‘Captive Power Producer (CPP)’ segment through M/s. KPIG Energia Private Limited and M/s. Sundrops Energia Private Limited, wholly owned subsidiaries of the Company. It would be pertinent to mention that the Company, through the respective wholly owned subsidiaries, has commissioned 38.76 MWp Solar Power Projects under both CPP and IPP segment and upon commissioning of the new orders aggregating to 24.90 MWp total cumulative capacity of the solar power projects under both CPP and IPP segment shall stand at 63.66 MWp, through the wholly owned subsidiary companies.”

The shares of KPI Green Energy Ltd closed today at 906 apiece, up by 0.80% from the previous close of 898.85. The stock recorded a total volume of 48,001 shares compared to the 20-Day average volume of 133,626 shares. The stock had touched a 52-week-high of 975.00 on (01-December-2022) and a 52-week-low of 285.00 on (21-December-2021), indicating that at the current market price the stock is trading 217.89% above the 1 year low and 7.07% below the recent fresh 1 year high.


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