Gensol Engineering hits lower circuit as Sebi bars the company, promoters from securities markets in fund diversion case
Gensol Engineering is currently trading at its lower circuit of Rs. 123.65, down by 6.50 points or 4.99% from its previous closing of Rs. 130.15 on the BSE.
The scrip opened at Rs. 123.65 and has touched a high and low of Rs. 123.65 and Rs. 123.65 respectively. So far 14899 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1125.75 on 24-Jun-2024 and a 52 week low of Rs. 123.65 on 16-Apr-2025.
Last one week high and low of the scrip stood at Rs. 139.85 and Rs. 123.65 respectively. The current market cap of the company is Rs. 475.39 crore.
The promoters holding in the company stood at 62.65%, while Institutions and Non-Institutions held 2.00% and 35.34% respectively.
Capital markets regulator the Securities and Exchange Board of India (Sebi) has barred Gensol Engineering and promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities markets till further orders in a fund diversion and governance lapses case.
The regulator has also debarred Anmol and Puneet Singh Jaggi from holding the position of a director or key managerial personnel in Gensol until further orders. Further, the markets watchdog directed Gensol Engineering (GEL) to put on hold the stock split announced by it.
The order came after Sebi received a complaint in June 2024 relating to the manipulation of share price and diversion of funds from GEL and thereafter started examining the matter.
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.
