700% rally in three years! KPI Green Energy share price edges higher after receipt of solar power projects

KPI Green Energy share price rose nearly 4% during Thursday's trading session after the company revealed that its subsidiary, Sun Drops Energia Pvt., has been awarded letters for the development of solar power projects totaling 14.9 MW in capacity. These projects will be carried out within the captive power producer business segment.

The completion of the projects is provisionally planned for the financial year 2025-26, with different phases aligning with the order requirements.

Recently, KPI Green Energy announced that it has been approved for a loan facility of ₹272 crore to partially finance its 50 megawatt (MW) hybrid project. The project is being developed in Baruch, Gujarat, as mentioned in an exchange filing by the company.

The firm has obtained a final sanction letter from the National Bank for Financing Infrastructure and Development (NaBFID) for credit facilities totaling ₹272 crores to help fund the 50 MW hybrid power project, which includes 75.2 MWp of solar capacity and 16.95 MW of wind capacity.

KPI Green Energy share price today

KPI Green Energy share price today opened at ₹406.15 apiece on the BSE, the stock touched an intraday high of ₹415 apiece, and an intraday low of ₹396.30 per share. Over the period of three years, KPI Green Energy share price surged nearly 700% giving multibagger returns to its investors.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities stated that after a failed breakout at ₹711, KPI Green share price corrected 57% in just 24 weeks. Over the past seven weeks, KPI Green Energy share price has been consolidating, forming a base for a potential rebound. However, a sustained move above ₹420 is crucial to trigger a pullback.

“If the stock clears this level, it could rally toward ₹500, a key swing high. Traders should watch for a breakout above ₹420 to confirm bullish momentum,” said Jain.

Further, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One highlighted that KPI Green share prices are currently trading with gains of around 1.5% hovering around 20 ema at ₹420, a move beyond ₹420 can push prices towards ₹450; whereas ₹380 seems a strong support with higher bottom.

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