KPI Global Infra, which had closed yesterday at Rs.54.45, went on to hit an intraday high today at Rs.63, up almost 16%. Its 20% UC for the day is at Rs.65.70.
The stock has surged on its announcement that it has signed a new long term Power Purchase Agreement (PPA) with Polycab India, Vadodara.
This is for sale of 5.70 MW solar power for their different units for a period of 20 years under Independent Power Producer (IPP) business vertical.
A couple of weeks ago, the company was in the news after it bagged an order for executing solar power project of 3.50 MW capacity under "Captive Power Producer (CPP)" category. This order was from Prachi Mittal Creations, Surat.