Volume Mover: KPI Green Energy Gains On SBI Loan But Technicals Flag Mixed Signals

KPI Green Energy shares rose over 2% on Thursday after the company secured a ₹3,200 crore sanction from the State Bank of India for its solar and hybrid projects in Gujarat.

The stock has seen heavier-than-usual trading activity on Thursday. Trading volume so far has crossed 613,700 shares, compared with the 30-day average of 472,826. 

SBI Sanctions Funds For Gujarat Project

The funds will support two key projects under the company's IPP portfolio. The first is a 250 megawatt alternating current (AC) / 350 megawatt peak direct current (DC) solar power project. The second is a 370 megawatt hybrid project, comprising 557 megawatt peak solar capacity and 124.20 megawatt wind capacity.

KPI Green Energy builds, owns, and runs grid-connected solar projects, generating revenue through long-term Power Purchase Agreements.

Technical View

SEBI-registered analyst Sameer Pande said KPI Green Energy shows a mildly bullish technical stance in late September, supported by new orders, strong financials, and project commissioning in Gujarat.

He noted the stock's current price of ₹470–₹475 is hovering near its 20-day Exponential Moving Average (EMA) of ₹488, leaving the daily trend neutral as the price oscillates around this level. 

The Daily Supertrend and Bollinger Bands suggest low volatility. The stock is trading in a narrow range with a cautiously optimistic bias.

On weekly and monthly charts, Pande observed that long-term momentum oscillators like Moving Average Convergence Divergence (MACD) and Know Sure Thing (KST) continue to show underlying bearish bias, while Relative Strength Index (RSI) has shown a mild bullish bias. That mix warns of possible reversals.

Demand And Supply Zones

Pande said that, based on Volume Weighted Average Price (VWAP) analysis, the stock is trading above its short-term 5-day and 10-day VWAPs, indicating short-term momentum. However, it is trading below the 20-day, 50-day, and 100-day VWAPs, indicating medium-term supply pressure.

He also mentioned that demand zones can be seen around ₹470–₹465, where buyers are active. On the other hand, supply zones are present around ₹485–₹490 where selling pressure emerges. 

On the weekly timeframe, he added that the stock has strong support in the ₹460–₹440 range, with further support at ₹390–₹380.

Pande said the stock is consolidating between demand and supply areas. While short-term indicators lean positive, longer-term caution remains due to mixed signals and volatility. He added investors should watch breakout levels and news flow for a clearer direction.

What Is The Retail Mood?

On Stocktwits, retail sentiment was 'bullish' amid 'high' message volume.

KPI Green Energy's stock has declined nearly 14% so far in 2025.

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