Gensol Engineering inches up on receiving LoA worth Rs 40 crore
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Gensol Engineering is currently trading at Rs. 946.40, up by 2.90 points or 0.31% from its previous closing of Rs. 943.50 on the BSE.
The scrip opened at Rs. 953.95 and has touched a high and low of Rs. 958.45 and Rs. 944.70 respectively. So far 1642 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. 988.85 and Rs. 915.40 respectively. The current market cap of the company is Rs. 3573.31 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 has received the Letter of Award (LoA) for execution of 16 MWp turnkey EPC rooftop solar project worth Rs 40 crore under commercial and industrial (C&I) segment from a leading textile company. This is a repeat order for Gensol, which will be installed in Madhya Pradesh and Gensol will commission the project in six months.
The project will utilize high-efficiency Bi-facial solar modules, strategically chosen to maximize energy output and ensure long-term durability. This innovative approach aligns perfectly with India's ambitious renewable energy targets and contributes significantly to the development of a robust green energy infrastructure. Led by solar power, renewable solutions are gaining traction in the C&I segment as they allow commercial establishments and industries to decarbonize their energy consumption and cut down carbon footprint, embrace sustainability.
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.
