This power stock to turn ex-bonus this week, scrip is 131% up from 52-week-low
KPI Green Energy Ltd., a small-cap company with a market worth of Rs. 1,549.15 Cr., operates in the nation’s power industry. The firm announced 1:1 bonus shares on December 12, 2022, and to determine the shareholders’ eligibility for corporate action, the company fixed January 18, 2023 as the record date. However, because the company uses a T+1 settlement mechanism, the ex-date is falling on the same day.
The company has said 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.”
Recently, the company informed stock exchanges by saying that “we are pleased to announce that one of India’s leading solar panel manufacturing company, has given a new order for the execution of Engineering, Procurement, Construction, and Commissioning (EPCC) of a solar power project of 33 MWp capacity under ‘Captive Power Producer (CPP)’ segment of the Company along with 25 years of Operation & Maintenance and Land Lease Agreement, through M/s. KPIG Energia Private Limited, a wholly . owned subsidiary of the Company. We are pleased to emphasize that this is the largest single order received by the Company. This will further strengthen and accelerate the speed to achieve our ambitious target of reaching 1000 MWp capacity by 2025.”
The company had also recently announced that “we are glad to inform that KPI Green has signed new long term Power Purchase Agreement (PPA) for sale of 7.50 MWp solar power with M/s. TATA Motors Passengers Vehicles Limited (A subsidiary of TATA Motors Limited) under Independent Power Producer (!PP) Segment of the Company.”
On Friday, the shares of KPI Green Energy Limited closed on the NSE at ₹859.00 apiece level, up by 0.03% from the previous close of ₹858.70. The stock recorded a total volume of 42,082 shares compared to the 20-Day average volume of 70,291 shares. The stock has appreciated 61.28% during the past year, but YTD, it has plummeted 4.89% so far in 2023. The stock had touched a 52-week-high of ₹975.00 on (01-Dec-2022) and a 52-week-low of ₹370.75 on (24-Feb-2022), indicating that at the current market price, the stock is trading 11.89% below the 1 year high and 131.69% above the 1 year low.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.