KPI Green Energy bags 100-MW solar power project order from Aether Industries; stock slips 5%

Despite the new order, shares of KPI Green Energy fell 5% to ₹1,016.80 apiece on the National Stock Exchange (NSE) on July 19. The stock opened the session at ₹1,080, higher than its previous close of ₹1,070.30, but failed to maintain the gains and slumped into negative territory, reaching the day’s low. Interestingly, ₹1,080 was also the stock’s 52-week high, but it could not hold on to that for long.

On July 5, KPI Green Energy announced it had inked a power purchase deal with Gujarat Urja Vikas Nigam Limited for a 50 MW solar-wind hybrid power project. This project includes 16.80 MW of wind power and 50 MW of solar power. According to the company, the project expedites its attempts to meet its ambitious target of 1000 MWp capacity by 2025.

KPI Green Energy recently executed a 2:1 stock split, dividing each share with a face value of ₹10 into two shares with a face value of ₹5 each. Earlier this year, the company also issued one bonus share for every two shares held.

In the latest shareholding pattern, FPIs raised their stake in KPI Green Energy from just over 5.5% in March 2024 to 6.1% by the end of the June 2024 quarter. Additionally, the number of small shareholders increased from 1.51 lakh at the end of March 2024 to 1.91 lakh by the end of June 2024.

KPI Green Energy’s stock has traded over a significant range in the past 52 weeks, reaching a high of ₹1,080 on July 19, 2024, and a 52-week low of ₹248.67 on August 2, 2023.