KPI Green Energy, a renewable energy company, has fixed the record date for its upcoming bonus issue in January 2025. Following this, the energy stock witnessed massive buying sentiment on Friday, December 20, 2024, so much so that it jumped by at least 5%. This will be the company's second bonus issue in 10 months. The stock has also carried a stock split and hefty dividends payout in 2024 as well.
KPI Green Energy Share Price:
At the time of writing, the stock traded at Rs 796.95 apiece, up by 4.4% on BSE with a market cap of Rs 10,460.80 crore. During the early trade, the stock rallied by 5% to cross the Rs 800 mark by hitting an intraday high of Rs 801.50 apiece. KPI Green's 52-week high and low are at Rs 1,116 apiece and Rs 406.87 apiece respectively.
YTD, the stock has jumped by 66%.
KPI Green Energy Bonus Issue:
The upcoming bonus issue is of a 1:1 ratio. For this, KPI fixed Friday, January 03, 2025, as the 'Record Date' for determining the eligibility of Shareholders entitled to issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Share of Rs. 5/- (Rupees Five only) each for every 2 (Two) existing Equity Share of Rs. 5/- (Rupees Five only) each, subject to the approval of Shareholders which is being obtained through Postal Ballot.
This will be the second bonus issue by KPI Green in 2024. Earlier, the stock turned ex-date on February 15, 2024, for its bonus shares of 1:2 ratio. Furthermore, KPI has carried one stock split of 1:2 ratio and its ex-date was on July 18, 2024.
Additionally, KPI Green has delivered three dividends of Rs 0.20 each and its ex-dates were August 21, October 4th, and November 14th of the current year.
KPI Green Energy MoU:
Another key reason for the surge in KPI Green stock would be the Memorandum of Understanding (MoU) that KPI Green signed with the Government of Rajasthan for the development of Hybrid, Solar & Wind Power Projects at Jaisalmer (Ramgarh), Rajasthan.
As per the regulatory filing on December 19th, the Government of Rajasthan would facilitate the Organisation/Company to obtain necessary permissions/clearance etc. from concerned departments of the State as per the existing policies/rules and regulations of the State Government.
KPI said, "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."
Should You Buy KPI Green Energy Stock?
As per Trendlyne data, the consensus recommendation from 1 analyst for KPI Green Energy Ltd. is STRONG BUY.
Data from BSE showed that KPI's price-to-equity ratio is at 67.03x, while its return on equity is at 8.52% as of December 20, 2024.
About KPI Green Energy:
KPI Green Energy Limited is the Renewable vertical of KP Group and a prominent Gujarat-based Renewable power generating company. Incorporated in February 2008, focused on providing Renewable power through different Business verticals. The Company develops, builds, owns, operates and maintains Renewable power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name 'Solarism'.
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