Gensol Engineering Limited, a company engaged in the solar business, saw its shares hit an upper circuit of 5 percent in the early hours of Friday at Rs 978 levels. The scrip gained after it bagged an order worth Rs 501.19 crore.
The company has received purchase orders from reputed clients for the development of solar power projects aggregating to a capacity of over 247 MWp in multiple states.
Gensol Engineering will execute orders in the states that include Andhra Pradesh, Haryana, Gujarat, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttarakhand, and West Bengal. This takes the total order book of the company to over Rs 1,025 Crores.
The scope of work includes design, engineering, supply, construction, testing, and commissioning of these projects along with comprehensive operation and maintenance services after successfully commissioning the plant.
Gensol Engineering Limited, a part of the Gensol group, provides services that include Solar advisory, solar EPC, Solar O&M & solar monitoring & analysis. In addition to that, it also provides dedicated consultancy services for EHV (extra high voltage) transmission lines.
The stock price has risen from Rs 247 a piece in February 2022 up to the current levels, logging a multibagger return of 296 percent in a year.
In a two-year time frame, the stock has logged a multibagger return of 1,625 percent as the share price has risen from Rs 56 a piece in February 2021 up to the current levels. An investment of Rs 1 lakh then would be worth Rs 17.25 lakhs today.
The small-cap company has a market capitalization of Rs 1,195 crore. The promoters have decreased their holding in the current quarter to 64.67 percent and have pledged 30.93 percent of it. Meanwhile, the FIIs have increased their stake and now hold 1.84 percent of the company.
Written by Anoushka Roy
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