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Business News/ Markets / Multibagger KPI Green Energy stock with more than 500% returns in a year hits upper circuit limit
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Multibagger KPI Green Energy stock with more than 500% returns in a year hits upper circuit limit

Stock Market today: KPI Green Energy has remained in the news due to its strong execution and order flows.

Multibagger KPI Green Energy stock with more than 500% returns in a year also hit an upper circuit limitPremium
Multibagger KPI Green Energy stock with more than 500% returns in a year also hit an upper circuit limit

Stock Market today: KPI Green Energy Ltd's share price hit the upper circuit during morning trades on Tuesday. By the afternoon, the share price saw some corrections. Nevertheless, KPI Green Energy Ltd, formerly known as K.P.I. Global Infrastructure Limited, has seen its share price rise more than sixfold in the last year, providing multibagger returns to investors.

KPI Green Energy has remained in the news due to its strong execution and order flows.

Recently, the rating agency ICRA reaffirmed the company's credit rating for its total credit facility of Rs. 873.85 crores. ICRA reaffirmed A- (Stable) ratings for the enhanced amount of Term loans and Cash Credit. Additionally, ICRA reaffirmed [ICRA]A2+ ratings for Working Capital and Demand Loans of KPI Green Energy, as per the company's release on the exchanges. 

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Furthermore, within the Independent Power Producer (IPP) sector, KPI Green Energy recently announced that it has received permission from the Chief Electrical Inspector (CEIG) for its 10 MW solar power projects. These projects will be incorporated into KPI Green Energy's portfolio of power generation assets through M/s. KPark Sunbeat Private Limited, a fully owned subsidiary of the company.

Additionally, the Chief Electrical Inspector (CEIG) recently approved KPI Green Energy's 54.74 MW of solar power projects, as reported in the company's filings on the exchange a few days ago. This includes approvals totaling 6.59 MW for projects falling under the IPP sector and 48.15 MW for projects falling under the CPP segment. These approvals are for the benefit of KPI Green Energy Limited's clients and its fully owned subsidiaries, Sun Drops Energia Private Limited and KPIG Energia Private Limited.

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It was announced that M/s. Sun Drops Energia Private Limited, a fully owned subsidiary of the company operating under the "Captive Power Producer (CPP)" segment, has obtained a fresh order of 2.6 MWp for the execution of a solar power project.

The solar and hybrid vertical of KP Group, known as KPI Green Energy, is a well-known corporation for solar and hybrid power generation with headquarters in Gujarat. Established in February 2008, the company aims to supply solar and hybrid energy to various business verticals. Operating under the brand name "Solarism," the company designs, constructs, owns, operates, and maintains solar and hybrid power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs).

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 09 Apr 2024, 01:22 PM IST
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