Shares of EKI Energy Services, a company dealing in carbon credits and sustainability services, hit an all-time high of Rs 10,946, taking the total market cap to Rs 7,500 crore. However, the scrip soon saw profit-booking and tanked to Rs 9,903.60 apiece.
Though, it is to be noted that the price movement has come at a low volume, which is common for stocks listed on the SME platform. Thus, wild movement in prices is also not uncommon. Sometimes just a handful of trades happen, inflating prices and may not represent a true price discovery.
EKI Energy had debuted on the BSE SME Platform on April 7, 2021, with a market capitalization of Rs 96.23 crore. The company had raised Rs 18 crore during the initial public offer (IPO) in the Rs 100-102 price band.
The rise in its share prices has come as the company expanded its global footprint and launched multiple strategic projects, including a joint venture with Royal Dutch Shell, a spokesperson for the firm said.
The company said it witnessed revenue growth of about 189% year-on-year (YoY) to approx Rs 190 crore in FY21. Its revenue from operations within the first six months of FY22 stood at Rs 636 crore. The company is expecting a strong growth momentum over the next few years as the carbon market evolves and witnesses increased demand for carbon credits.
The climate change firm claims to be amongst the top 5 carbon asset management companies in the world and also the first and only listed company in the carbon market globally. Its offerings span across carbon credit/asset management, carbon footprint management, sustainability audits, training for quality control and management amongst others.
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