29-09-2023 10:28 AM | Source: Accord Fintech
KP Energy jumps on getting NoA from NTPC Renewable Energy

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KP Energy is currently trading at Rs. 564.65, up by 26.85 points or 4.99% from its previous closing of Rs. 537.80 on the BSE.

The scrip opened at Rs. 564.65 and has touched a high and low of Rs. 564.65 and Rs. 551.10 respectively. So far 91044 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 600.00 on 08-Sep-2023 and a 52 week low of Rs. 143.05 on 20-Mar-2023.

Last one week high and low of the scrip stood at Rs. 564.65 and Rs. 476.95 respectively. The current market cap of the company is Rs. 1255.22 crore.

The promoters holding in the company stood at 44.80%, while Institutions and Non-Institutions held 0.19% and 55.01% respectively.

KP Energy has been awarded contract(s) through the Notification of Award (NoA) for the development of a 464.10 MW Balance of System Package for an Inter-State Transmission System (ISTS) Connected Wind Energy Project to be developed in the state of Gujarat. These contract(s) have been awarded by NTPC Renewable Energy (NTPC REL) through a competitive bidding process. This project falls under the Company's 'Captive Power Producer (CPP)' business segment.

Under these contract(s), the company will provide a comprehensive range of services, including Engineering, Procurement, Construction and Commissioning (EPCC). These services encompass the acquisition and transfer of land for the project, the supply of all necessary equipment for the balance of plant, and the provision of various services related to unloading, storage, on-site handling, installation, insurance, civil and allied works, integration into the grid, testing and commissioning. Additionally, the company will be responsible for the operation and maintenance of the contract scope for a duration of three years.

KP Energy is engaged in operating solar and wind energy projects in India.