KPI Green Energy shares rally 5% after signing MoU with Rajasthan govt

KPI Green Energy shares rallied 5% to their day’s high of Rs 800 on the BSE after the company signed a memorandum of understanding (MoU) with the Rajasthan government for the development of hybrid, solar and wind power projects at Jaisalmer, Rajasthan.

The government of Rajasthan will facilitate the organization/company in obtaining necessary permissions/clearances from concerned departments as per the existing policies, rules, and regulations of the state government, the company said in an exchange filing.

In another development, the company has fixed Friday, January 3, 2025, as the 'record date' for determining the eligibility of shareholders entitled to the issuance of bonus equity shares in the proportion of one equity share of Rs 5 each for every two existing equity shares of Rs 5 each, subject to shareholder approval, which will be obtained through postal ballot.


Prior to this, the company issued bonus shares to its shareholders twice. In February 2024, KPI Green Energy issued bonus shares in the ratio of 1:2, and in January 2023, the company issued bonus shares in the ratio of 1:1.

According to Trendlyne data, the average target price for KPI Green Energy stock is Rs 1,100, indicating an upside of 44% from the current market prices. The consensus recommendation from one analyst is a 'Strong Buy.'

KPI Green Energy shares have gained 71% in the last year and 60% so far this year. However, the stock has declined by 15% in the last six months and by 4% in the last three months.

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