Green is Gold: KPI Green Energy share price gallops -

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By Our Special Correspondent

New Delhi, June 15: The stock market is bleeding worldwide. But the future theme continues to buck the trend.

KPI Global Energy has rejected the overall bearish trend in the equity market to gain over 30 per cent in just a few days.

The Gujarat-based solar power company was available at Rs 140 not so long ago while it ran past Rs 670 on Wednesday.

There are always such stocks available in the equity market which defy the overall trend of the market because of the theme play or other known and unknown reasons.

KPI Green Energy is known to be fast expanding in solar power solution, setting up solar power captive plants in Gujarat and other states. It is also a solar power producer.

With the coal shortage affecting power plants not only in India but several countries, there’s a greater awareness among the industries to go for own captive solar plants to cut down on the cost and also gain independence from the outside costly power supply.

KPI Green Energy was in fact a company listed in the SME (Small and medium enterprises of the equity market) last year and it had made debut on NSE and BSE for normal trading at around Rs 140 a share. Since then it has never looked back, taking pauses at stages, only to gain the onward momentum.

In fact, KPI Green Energy isn’t an exception as its other peers in the solar energy space have also shown similar price trends, affirming that the investors are boarding the futuristic themes.

Adani Green has already proven to be a multibagger in the equity market.

With a market cap of about Rs 1200 crore, KPI Global energy is a small cap company, and institutional investors don’t seem to have boarded the company yet.

On June 15, 2021, just a year ago, KIP Green Energy was quoting at Rs 54 (source: screener.in). In one year, it has gone up by 13 times to qualify as a multi-bagger in the making if the price trend sustains.

In the March quarter, 2022, KPI Green Energy had 2.77 per cent of the foreign institutional investors (FII) (Source: screener.in) while the domestic institutional investors are yet to buy into the company.

While the company had a profit of about Rs 30 crores in March quarter, 2021, its profit was Rs 35.66 crores in the March quarter, 2022 while in the same period the stock price has gone up by 13 times.