KPI Green Energy shares climbed 496% in a year; more upside ahead? – EQ
In Short : “KPI Green Energy shares surge by 496% in a year, sparking speculation about further upside potential, as investors eye the company’s growth trajectory and prospects in the renewable energy sector.”
In Detail : Multibagger stock: KPI Green Energy stock has climbed 496% against 25% returns in the Sensex during the period. In the previous session, KPI Green Energy stock ended 1.43% lower at Rs 1737.50 on BSE.
Shares of KPI Green Energy have delivered multibagger returns in the last one year. The stock has climbed 496% against 25% returns in the Sensex during the period. An amount of Rs 1 lakh invested in the KPI Green Energy stock a year ago would have turned into Rs 5.96 lakh today.
Despite the stellar rally in the multibagger stock, Vaishali Parekh – VP, Technical Research at Prabhudas Lilladher believes that KPI Green Energy looks set for more upmove. Parekh said, “KPI Green has a strong support level at Rs 1465 and looks positive for a target of Rs 1900. A break above Rs 1900 will pave the way for higher targets.”
Osho Krishan, Sr. Analyst- Technical and Derivatives Research at Angel One is also positive on the outlook of the stock.
“KPI Green has been in a secular uptrend, hovering above all its significant EMAs on the daily time frame. A decisive and sustenance breach above Rs 1,800 is likely to trigger a fresh round of rally in the counter. On the lower end, the bullish gap around Rs 1,600 is likely to provide support, while the sacrosanct support lies around Rs 1,450. The counter is poised to continue its upward journey with some in-between blips; it is advisable to have a pragmatic approach with bullish biases,” said Krishan.
In the previous session, KPI Green Energy stock ended 1.43% lower at Rs 1737.50 on BSE. KPI Green Energy shares have gained 82% in 2024. A total of 0.57 lakh shares of the firm changed hands, amounting to a turnover of Rs 9.99 crore on BSE. Market cap of the company stood at Rs 10,474 crore on BSE.
In terms of technicals, the relative strength index (RSI) of KPI Green Energy stands at 61.8, signaling it’s trading neither in the overbought nor in the oversold zone. The 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 multibagger stock touched a record high of Rs 1,895.95 on February 26, 2024 and a 52-week low of Rs 286.64 on April 11, 2023.
Abhijeet from Tips2trades said, “KPI Green stock price is slightly bearish on the Daily charts with strong resistance at 1847. A daily close below support of 1705 could lead to target of 1500 in the near term.”
In the third quarter of the previous fiscal, KPI Green Energy logged a 84.21% rise in sales & a 46.87% YoY rise in net profit. As compared to the previous quarter, revenue grew 53.49% and the profit increased 45.66%.
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.
