Multibagger stock surged over 190% in 3 years, Board declares 1:2 stock split

The company said in a stock exchange filing that the Board of Directors has “Considered, approved and recommended ordinary resolution through postal ballot for alteration in the capital of the Company by sub-division/split of existing equity share of the Company from 1 (One) equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 2 (Two) equity shares having face value of Rs. 5/- (Rupees Five only) each fully paid-up. The Record Date will be intimated in due course. Considered, approved and recommended special resolution through postal ballot for appointment (regularisation) of Mr. Rajendra Kundanlal Desai (DIN: 00198139) as Non-Executive Independent Director of the Company.”

According to the company, the rationale behind the split is to enhance the liquidity of the Company’s equity shares and encourage the participation of small investors by making it more affordable and the expected time of completion is approximately 3 months from the date of receipt of approval of the shareholders of the company.

The shares of KP ENERGY Ltd closed today on the BSE at ₹388.70 apiece level, up by 0.84% from the previous close of ₹385.45. The stock recorded a total volume of 35,871 shares. The stock has produced a multibagger return of 112.58% over the past five years, and a multibagger return of 199% during the past three years. The stock has appreciated 38.60% over the past year, and it has climbed 85.18% during the past six months. The stock had touched a 52-week-high of ₹488.55 on (09/09/2022) and a 52-week-low of ₹140.70 on (17/05/2022), indicating that at the current market price, the stock is trading 20.43% below the 1 year high and 176.26% above the 1 year low. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 44.80% and a public stake of 55.20%.