Multibagger power stock hits upper circuit on Rs 1,311-crore contract win 

Multibagger power stock hits upper circuit on Rs 1,311-crore contract win 

The multibagger stock rose 5% to Rs 349.95 in early deals against the previous close of Rs 333.30.

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Aseem Thapliyal
  • Updated Jan 30, 2025, 10:47 AM IST
KPI Green Energy shares have gained 270% in two years but lost 5.10% in a year. The stock has climbed 530% in three years. KPI Green Energy shares have gained 270% in two years but lost 5.10% in a year. The stock has climbed 530% in three years.

Shares of KPI Green Energy Ltd were stuck in the upper circuit today after the company said it signed contract a agreement with Coal India to develop a 300 MWAC grid-connected ground-mounted solar PV plant with operation & maintenance (O&M) services for five years at GIPCL's Solar Park in Khavda, Gujarat. The price of the contract is Rs 1,311.40 crore, with completion expected by November 2025.

The multibagger stock rose 5% to Rs 349.95 against the previous close of Rs 333.30. The power stock opened 5% higher at Rs 349.95 on Thursday against the previous close of Rs 333.30 on BSE. 

KPI Green Energy shares have gained 270% in two years but lost 5.10% in a year. The stock has climbed 530% in three years.

A total of 0.21 lakh shares of the firm changed hands, amounting to a turnover of Rs 74.97 lakh on BSE. Market cap of the company stood at Rs 6,890 crore on BSE.

The stock hit a record high of Rs 744.37 on August 12, 2024 and a fell to 52-week low of Rs 312.95 on January 29, 2025. 

In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 22, signaling it's trading 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.   

"We are delighted to announce that KPI Green Energy Limited has successfully signed Contract Agreement with Coal India Limited to develop a 300 MWAC grid-connected ground-mounted solar PV plant with Operation & Maintenance (O&M) services for five years at GIPCL’s Solar Park in Khavda, Gujarat. The contract price is ?1,311.40 Crore, with completion expected by November 2025. It’s a privilege for our company to contribute to the nation’s transition to sustainable renewable energy, reinforcing and accelerating our efforts to meet our ambitious target of 10 GW capacity by 2030. This is for your information and records," 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.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jan 30, 2025, 10:47 AM IST