Gensol Engineering moves up on acquiring 54.38% stake in Scorpius Trackers
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Gensol Engineering is currently trading at Rs. 1884.95, up by 9.40 points or 0.50% from its previous closing of Rs. 1875.55 on the BSE.
The scrip opened at Rs. 1895.05 and has touched a high and low of Rs. 1926.05 and Rs. 1876.50 respectively. So far 1194 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2119.45 on 06-Sep-2023 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. 1968.00 and Rs. 1789.80 respectively. The current market cap of the company is Rs. 2367.75 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 acquired 58,779 equity shares of Scorpius Trackers (Scorpius) constituting 54.38% of shares capital and voting rights in Scorpius. By virtue of this Scorpius is now a subsidiary company of the Company.
This acquisition strengthens Gensol Engineering's position as a leading provider of end-to-end renewable energy solutions and is a part of its strategy to expand its portfolio by spreading wings across new geographies. With the acquisition of Scorpius Trackers, Gensol, will be able to offer to its clients an end-to-end EPC solution that includes innovative solar tracking technology, thus, enabling its customer to reduce their levelized cost of energy.
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.
