K P Energy stock hits new 52-week high on proposed formation of wholly owned subsidiary

10 Jan 2022 , 12:19 PM

K P Energy Ltd has informed that the Operation and Maintenance (O&M) business of the company is proposed to be developed as a separate vertical. Accordingly, a wholly owned subsidiary by the name “KP ENERGY OMS LIMITED” is proposed to be incorporated. The proposed wholly owned subsidiary shall be engaged in the field of operation and maintenance of the renewable power projects.

As per regulatory filing, Company is planning to develop its O&M division as a separate vertical to achieve the economies of scale and streamline the focus on the core operation of O&M business.

At around 12:21 PM, K P Energy hits 52-week high at Rs294.45 per piece on Sensex.