KP Energy Rockets 5% on Bonus Share Buzz and Key Board Decisions

28 Dec 2023 , 03:06 PM

KP Energy’s share price hits a 5% upper circuit in early trade on December 28, following news of the board considering bonus shares.

The stock is trading at Rs 653.60 at the time of writing, reflecting a 5% increase from the previous close.

The company’s board is scheduled to meet on December 30 to discuss the proposal for issuing bonus equity shares to shareholders.

Additionally, the board will review and approve the increase in the authorized share capital to facilitate the issuance of bonus equity shares, if approved.

Board deliberations will also cover the appointment (regularization) of Dukhabandhu Rath as a non-executive independent director and Amitkumar Subhashchandra Khandelwal as a whole-time director.

Last week, KP Group secured a supply order for 193.2 MW wind turbines from Suzlon Energy, consisting of 92 turbines of the S120-140-HLT model, each with a rated capacity of 2.1 MW.

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