Gensol Engineering shines as its arm bags order for 500+ EV Cargo vehicles
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Gensol Engineering is currently trading at Rs. 2075.00, up by 83.50 points or 4.19% from its previous closing of Rs. 1991.50 on the BSE.
The scrip opened at Rs. 2005.95 and has touched a high and low of Rs. 2084.95 and Rs. 1982.40 respectively. So far 7029 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. 2084.95 and Rs. 1887.90 respectively. The current market cap of the company is Rs. 2625.85 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’s subsidiary -- Gensol EV Lease has bagged an order for more than 500 Tata Ace Cargo EVs. This substantial order, valued at Rs 75 crore is from an all-electric logistics company. An Initial batch of 20+ EVs have already been leased, with the remaining cars to be deployed over the next 6 months across 5 states in India - Maharashtra, Karnataka, West Bengal, Tamil Nadu and Telangana.
Specialising in flexible and tailored EV leasing and fleet management solutions, Gensol EV Lease champions sustainable and eco-conscious mobility while addressing the challenges that have hindered widespread EV adoption. These orders mark a significant step towards advancing sustainable mobility through innovative EV leasing solutions. Gensol EV Lease is steadfastly establishing itself as a pivotal player in the EV leasing sector meeting the burgeoning demand for EVs in the years ahead.
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.
