Gensol Engineering soars on securing contract worth Rs 186 crore
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Gensol Engineering is currently trading at Rs. 848.65, up by 22.00 points or 2.66% from its previous closing of Rs. 826.65 on the BSE.
The scrip opened at Rs. 839.95 and has touched a high and low of Rs. 853.20 and Rs. 839.95 respectively. So far 7040 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. 720.00 on 11-Dec-2023.
Last one week high and low of the scrip stood at Rs. 859.00 and Rs. 777.10 respectively. The current market cap of the company is Rs. 3130.76 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 been awarded a prestigious contract by UAE’s leading sustainable development and clean energy development company for the design, construction, and long-term operation and maintenance of rooftop solar photovoltaic (PV) systems for the engineering facilities of a leading aviation company in Dubai.
With a total installed capacity of 23,178 kWp (23 MWp), the project underscores Gensol Engineering’s commitment to driving sustainability in the Middle East by contributing to the region’s transition to cleaner energy sources. The contract, valued at the United Arab Emirates Dirham (AED) 81.6 million (Rs 186 crore) plus taxes, is set to be executed over a 20-month period.
The turnkey project will involve the design, procurement of materials, construction, testing, commissioning, and long-term operation and maintenance of the rooftop solar PV systems. These systems will provide a sustainable energy solution to the customer, contributing significantly to Dubai’s ambitious sustainability targets and reducing the carbon footprint of one of the region’s most critical industrial facilities.
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.
