Gensol Engineering soars on getting LOI from OREDA for providing 300 electric vehicles
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Gensol Engineering is currently trading at Rs. 1759.65, up by 66.70 points or 3.94% from its previous closing of Rs. 1692.95 on the BSE.
The scrip opened at Rs. 1743.50 and has touched a high and low of Rs. 1777.55 and Rs. 1699.55 respectively. So far 24319 shares were traded on the counter.
The BSE group 'B' 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. 797.05 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1777.55 and Rs. 1649.15 respectively. The current market cap of the company is Rs. 2127.86 crore.
The promoters holding in the company stood at 64.67%, while Institutions and Non-Institutions held 2.60% and 32.72% respectively.
Gensol Engineering has, in the month of July, received a LOI from Odisha Renewable Energy Development Agency (OREDA) for providing 300 Electric Vehicles with Fleet Management Service on an Operating Lease for 5 years. The company has participated in this tender on behalf of its subsidiary Gensol EV Lease to provide Electric Vehicles on Lease to OREDA and was declared successful bidder as a part of tendering process. The cumulative billing value of this tender is Rs 115 crore exclusive of taxes.
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.
