“New orders of 4.66 MW for executing solar power projects received by Sun Drops Energia Private Limited, a wholly-owned subsidiary of the Company under ‘Captive Power Producer (CPP)’ Segment of the Company,” KPI Green Energy said in an exchange filing.
The projects are scheduled to be completed in the financial year 2024-25 in various tranches, the company said.
With the addition of this order, the cumulative solar power project orders crossed 143+ MW under the CPP segment, the firm said.
At 10.38 am, the scrip was trading 1.3% higher at Rs 1,231 on BSE. Meanwhile, KPI Green Energy has also given multibagger returns to its investors as the stock has gained over 4500% in the last three years, while it has gained 900% in the last two years and over 170% in the one year.
Technically, the stock’s day RSI (14) is at 79. The RSI below 30 is considered oversold and above 70 is overbought, Trendlyne data showed. MACD is at 73.6, which is above its center and signal line, this is a bullish indicator. KPI Green Energy stock stands higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day moving averages.
The promoter group holds around 54.83% stake in the company. FIIs holding in the company stood at 4.2%, while institutional holding is at 4.2%, as per Trendlyne data. The company has a market cap of Rs 4,427 crore. KPI Green Energy provides renewable energy construction services. The company designs and builds solar power plants. The company develops and maintains grid-connected IPP solar power projects under the ‘Solarism’ brand. It generates revenue by supplying the power generated from its solar power plants to reputed business houses through Power Purchase Agreements.
(You can now subscribe to our ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
