Shares of KPI Green Energy Ltd are in news today as the company has inked a Memorandum of Understanding (MoU) with the Rajasthan government for the development of hybrid solar and wind power projects in Jaisalmer, Rajasthan. Additionally, KPI Green has announced January 3 as the record date to determine the eligibility of shareholders for its proposed bonus issue of equity shares. The bonus shares will be issued in the ratio of one equity share of Rs 5 face value for every two existing shares held. KPI Green’s board had initially recommended the bonus issue on November 14.
The multibagger stock ended 2.08% lower at Rs 763.35 in the previous trading session. The power stock opened lower at Rs 764.80 on Thursday against the previous close of Rs 779.55 on BSE. The stock has risen 385% in two years and gained 1423% in three years.
KPI Green Energy shares have gained 385% in two years and risen 71.01% in a year. The stock has climbed 71.70% in two years.
A total of 0.39 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.97 crore on BSE. Market cap of the company stood at Rs 10,019 crore on BSE.
The stock hit a record high of Rs 1116 on August 12, 2024 and a fell to 52-week low of Rs 406.87 on December 21, 2023.
In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 42.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading lower than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
"KPI Green Energy Limited (‘Company’) has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan for the development of Hybrid, Solar & Wind Power Projects at Jaisalmer (Ramgarh), Rajasthan. The Government of Rajasthan would facilitate the Organisation/Company to obtain necessary permissions/clearance etc. from concerned departments of the State as per the existing policies/rules and regulations of the State Government. By signing this MOU, we demonstrate our mutual commitment to the growth of the renewable energy sector and our vision for a sustainable, clean energy future," said the firm.
KPI Green Energy is a solar power generating company focused on providing solar power both as an Independent Power Producer (IPP) under the brand name of `Solarism' and as service provider to Captive Power Producer (CPP) customers.