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KPI Green Energy Board to Consider Second Bonus Share Issue in 2024

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Synopsis:

KPI Green Energy plans a board meeting on November 14 to discuss a second bonus share issue for 2024. Earlier this year, the company issued one bonus share for every two shares. KPI Green Energy share price closed 3.5% lower at ₹763.55.

KPI Green Energy news today

KPI Green Energy Ltd. has announced a board meeting on November 14, where it will consider a proposal for a second bonus share issue in 2024. This follows a previous issuance of one bonus share for every two shares held by existing shareholders earlier this year. The board will also review increasing the company’s authorised share capital during this meeting.

Also read: Alembic Pharma Gains USFDA Approval for Generic Hypertension Drug

KPI GREEN ENERGY LIMITED

Trade

747.7-32.09 (-4.11 %)

Updated - 13 November 2024
784.80day high
DAY HIGH
745.50day low
DAY LOW
386005
VOLUME (BSE)

Key Takeaways:

  • Previous Bonus: One bonus share for every two shares issued earlier in 2024.

  • 2023 Bonus: One free share for each share held.

  • Stock Split: Face value reduced from ₹10 to ₹5 per share this year.

  • Share Price Performance: KPI Green Energy share price up 60% in 2024.

Bonus Share History and Stock Performance

KPI Green Energy’s strategy to increase shareholder value through bonus issues and stock splits reflects its growth trajectory. In 2023, the company issued one bonus share for each share held, followed by another 1:2 bonus issue in 2024. Additionally, KPI Green Energy split its stock earlier in the year, reducing the face value from ₹10 to ₹5 per share, making shares more affordable and accessible. The KPI Green Energy share price has seen significant growth, with a 60% increase in 2024 and a 118% gain over the last year.

Also read: NMDC Announces 2:1 Bonus Share Issue Amid 18% Q2 Profit Growth 

Stock Price Movement

As of the latest trading session, KPI Green Energy share price stood at ₹763.55, a 3.5% decrease on the day. The impressive price gains across 2024 reflect positive investor sentiment, supported by the earlier bonus issue and stock split. These actions have positioned KPI Green Energy favourably in the market, with increased accessibility for retail investors.

Also read: SIP Inflows Cross ₹25,000 Crore Mark for First Time in October

Purpose of Bonus Share Issue

Bonus shares enable companies like KPI Green Energy to reward shareholders using accumulated profits or reserves. These issues are especially advantageous when share prices rise sharply, as they make shares more accessible to retail investors without diluting existing shareholder equity. The record date for this potential bonus issue is yet to be set, pending shareholder and regulatory approvals.

KPI Green Energy’s decision to review a second bonus share issue in 2024 reflects its commitment to enhancing shareholder value and market accessibility. With the November 14 board meeting set, investors and shareholders await further updates, potentially adding to KPI Green Energy’s favourable position in the stock market.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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