Shares of KPI Green Energy shares took a hit on Friday (January 3), declining by over 4 per cent during intraday trading. The drop comes as the stock began trading on an ex-bonus basis for its 1:2 bonus share issue, announced earlier by the company.
As of 1:34 PM IST, the shares of the company were trading at Rs 546.50 apiece down by 4.38 per cent. The company’s stock today opened at Rs 579 and hit a low of 548 during the intraday trading session.
In a regulatory filing dated December 19, 2024, KPI Green Energy has outlined the details of the bonus share issuance and said, “Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013 and Rules made thereunder, the Company has fixed Friday, January 03, 2025, as the ‘Record Date’ for determining the eligibility of Shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Share of Rs. 5/- (Rupees Five only) each for every 2 (Two) existing Equity Share of Rs. 5/- (Rupees Five only) each, subject to the approval of Shareholders which is being obtained through Postal Ballot.”
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KPI Green Energy: Stock performance
Over the past five days, the stock has seen a sharp decline of 32.95 per cent, trading at Rs 548.15 as of the latest update. Furthermore, in the past six months, the shares have dropped by 39.03 per cent.
The market capitalisation of the company currently stands at Rs 7,200 crore. The 52-week high and low of the company are Rs 745.33 and Rs 303.47, respectively.
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