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The power stock opened higher at ₹369.05 today against the previous close of ₹367.40 on BSE.
In terms of technicals, the relative strength index (RSI) of KPI Green Energy stood at 35, indicating it’s trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day moving averages but lower than 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The company has recently signed a Memorandum of Understanding (MoU) with the Odisha government to establish renewable energy parks in Ganjam.”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,” the company said in an exchange filing.
Earlier in January, the company had said that its subsidiary un Drops Energia Pvt Ltd has received letters of intent for the development of solar power projects with a cumulative capacity of 32.15 MW under the company’s captive power producer (CPP) business segment.
The entities awarding the orders are — Aditya Ultra Steel, Suraj Dyeing & Printing, Sunita Processors, Balaji Polyester, Citizen Metalalloys, Suez Internationals, Vintage Tiles, SIddheswari Textile, PD & Sons, Hayat Enterprise, Meghdoot Leisure and Devang Paper Mill.
The projects are tentatively scheduled to be completed in the 2025-26 financial year, in various tranches as per the terms of the orders.
KPI Green Energy shares also traded ex-bonus from January 3. The company had announced the issue of one free share for every two shares held as on the record date.
Between March and September 2024, KPI Green’s retail shareholding (those with authorised share capital of up to ₹2 lakh), has gone up by 1 lakh in absolute terms.
At the end of the March quarter, KPI Green Energy had 1.51 lakh retail shareholders, based on the data available on BSE’s shareholding pattern. At the end of the September quarter, that number has increased to 2.53 lakh.
In percentage terms, retail shareholders now hold 22.58% stake in KPI Green Energy, compared to 20.95% they held at the end of March 2024.
At the same time, the promoter stake has come down from 53.08% in March to 48.77% in September.
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.
