Gensol Engineering Share Price Shows Slight Recovery Despite Previous Decline | January 5, 2024

Gensol Engineering Share Price: A Rollercoaster Ride

📈 On Wednesday, Gensol Engineering’s share price was trading at ₹865 with a 2% surge.

📉 However, the share witnessed a slight profit recovery today, closing at ₹830 with a 0.88% decline on Thursday.

📊 The main reason behind the recent surge in Gensol Engineering’s shares is the order received to set up a 33 MW AC solar power plant in Chhattisgarh state by Sharda Energy and Minerals Company.

🤝 Gensol Engineering has been awarded the contract to design, engineer, procure, and construct solar power projects, which will be useful for captive usage at Sharda Energy’s Khadora plant in Chhattisgarh.

⏰ The company has been given a six-month deadline to complete the project.

💰 Gensol Engineering has a total market capitalization of ₹3,200 crores ($430 million) and recently received approval to raise ₹300 crores ($40 million) through QIP or other means.

👥 The company’s promoter group holds a 64% stake, with renowned investor Mukul Agarwal among the shareholders, owning approximately 1.64% of the company.

🎁 In 2021, Gensol Engineering rewarded its shareholders with a bonus share for every three shares held. In the previous year, the company had issued a bonus share per share.

📈 The stock has provided multibagger returns, with the highest level in the past 52 weeks being ₹945.85 per share and the lowest level at ₹265.42 per share.

💼 With a market capitalization of ₹3,182.08 crores ($430 million), Gensol Engineering’s shares have witnessed a 1% decline year-on-year, but have delivered a remarkable 141% return compared to the previous year and a staggering 3,813% return to shareholders over the past three years.

📈📉 The journey of Gensol Engineering’s share price has been a rollercoaster ride, and investors continue to keep a close eye on the company’s performance.

(Note: The share price data mentioned in this article is as of 5th January 2024)

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