Gensol Engineering soars on acquiring 58% stake in Gensol Electric Vehicles
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Gensol Engineering is currently trading at Rs. 1037.00, up by 33.95 points or 3.38% from its previous closing of Rs. 1003.05 on the BSE.
The scrip opened at Rs. 1033.00 and has touched a high and low of Rs. 1042.00 and Rs. 1021.00 respectively. So far 1596 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. 111.10 on 27-Jan-2022.
Last one week high and low of the scrip stood at Rs. 1096.00 and Rs. 973.00 respectively. The current market cap of the company is Rs. 1225.62 crore.
The promoters holding in the company stood at 64.67%, while Institutions and Non-Institutions held 1.17% and 34.16% respectively.
Gensol Engineering has acquired 58.08% equity in Gensol Electric Vehicles, by investing Rs 3.50 crore. The company has acquired this stake with view to enter into Electric Vehicles Manufacturing Facility and accordance with business strategy of the company. With this transaction, the Gensol Electric Vehicles will become the subsidiary of the company. Gensol Electric Vehicles belongs to Manufacturing of Electric Vehicles.
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.
