Gensol Engineering gains on emerging as winning bidder for Hydrogen Electrolyser Manufacturing Capacity Under PLI Scheme
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Gensol Engineering is currently trading at Rs. 964.20, up by 7.60 points or 0.79% from its previous closing of Rs. 956.60 on the BSE.
The scrip opened at Rs. 967.75 and has touched a high and low of Rs. 999.00 and Rs. 942.45 respectively. So far 16414 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1377.10 on 20-Feb-2024 and a 52 week low of Rs. 547.55 on 28-Aug-2023.
Last one week high and low of the scrip stood at Rs. 1049.90 and Rs. 936.75 respectively. The current market cap of the company is Rs. 3637.12 crore.
The promoters holding in the company stood at 62.77%, while Institutions and Non-Institutions held 1.98% and 35.25% respectively.
Gensol Engineering in collaboration with Matrix Gas & Renewables, has emerged as a winning bidder for 237 MW annual capacity under Production Linked Incentive (PLI) scheme for setting up electrolyser manufacturing plant. This bid was secured through a competitive tender by Solar Energy Corporation of India (SECI).
The Gensol-Matrix consortium has secured a cumulative 300 MW capacity, including a prior 63 MW awarded in the first tranche of the SECI tender that equates to Rs 450 crore cumulatively incentive under the PLI scheme. This project will play a pivotal role in achieving India’s goal of producing 5 million metric tons of green hydrogen annually by 2030.
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.
