Gensol Engineering jumps on acquiring solar trackers-specialist Scorpius Trackers
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Gensol Engineering is currently trading at Rs. 997.25, up by 47.45 points or 5.00% from its previous closing of Rs. 949.80 on the BSE.
The scrip opened at Rs. 997.25 and has touched a high and low of Rs. 997.25 and Rs. 997.25 respectively. So far 8816 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 1990.00 on 02-Sep-2022 and a 52 week low of Rs. 277.05 on 31-Mar-2022.
Last one week high and low of the scrip stood at Rs. 997.25 and Rs. 812.50 respectively. The current market cap of the company is Rs. 1218.53 crore.
The promoters holding in the company stood at 64.67%, while Institutions and Non-Institutions held 2.26% and 33.07% respectively.
Gensol Engineering has, in the month of March 2023, fully acquired Scorpius Trackers, which is one of India's largest providers of single-axis solar tracker solutions. This acquisition strengthens Gensol Engineering's position as a leading provider of end-to-end renewable energy solutions and is a part of its strategy to expand its portfolio by spreading wings across new geographies. With this strategic addition, it is estimated that the combined revenue of Gensol Solar division will reach Rs 2300 crore in FY24.
Gensol Engineering is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.
