Gensol Engineering soars as its arm receives ARAI Certification to launch first flagship electric vehicle
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Gensol Engineering is currently trading at Rs. 1225.00, up by 34.80 points or 2.92% from its previous closing of Rs. 1190.20 on the BSE.
The scrip opened at Rs. 1250.00 and has touched a high and low of Rs. 1271.10 and Rs. 1215.00 respectively. So far 8678 shares were traded on the counter.
The BSE group 'B' 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. 265.42 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1308.45 and Rs. 1150.00 respectively. The current market cap of the company is Rs. 4507.63 crore.
The promoters holding in the company stood at 62.59%, while Institutions and Non-Institutions held 3.78% and 33.62% respectively.
Gensol Engineering’s subsidiary -- Gensol Electric Vehicles (GEVPL) has received the certification and approval for its unique and revolutionary electric vehicle, from the Automotive Research Association of India (ARAI). This significant accomplishment marks a monumental step forward, paving the path for the electric vehicle’s official launch and sale in the Indian market.
The ARAI certification process meticulously evaluates a vehicle's performance, safety, and compliance to vehicle regulatory norms. Gensol EV successfully met these criteria by navigating the rigorous assessments during the extensive vehicle testing process. This certification culminates the vehicle homologation process, which involved vehicle testing both in controlled lab environments and on diverse terrain conditions. This certification shows Gensol EV’s readiness to officially enter production and redefine sustainable & urban mobility in India.
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.
