Gensol Engineering soars on securing order worth Rs 780 crore
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Gensol Engineering is currently trading at Rs. 836.45, up by 20.95 points or 2.57% from its previous closing of Rs. 815.50 on the BSE.
The scrip opened at Rs. 856.60 and has touched a high and low of Rs. 860.00 and Rs. 834.00 respectively. So far 16767 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. 860.00 and Rs. 724.95 respectively. The current market cap of the company is Rs. 3113.15 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 secured a large turnkey EPC order from a leading public sector utility in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar PV power plant, with a total contract value of Rs 780 crore, is set to be executed over a 15-month period.
Gensol's role will encompass the entire gamut of the project's lifecycle -- from the complex and critical task of land acquisition, highlighting the scale and intricacy of the undertaking, to the precise and detailed phases of design, engineering, procurement, and logistics. The scope also includes the manufacturing, supply, erection, inspection, installation, testing, and commissioning of a 150 MWac grid-connected ground-mounted solar PV power plant, along with the development of the associated power evacuation infrastructure to the STU substation. Additionally, the contract includes three years of operation and maintenance (O&M) services for the project, inclusive of maintenance of the plant's switchyard and its extensive transmission infrastructure.
The project aligns with the forward-looking policy introduced by the Ministry of New and Renewable Energy (MNRE) in April 2022, aimed at enhancing Maharashtra's energy infrastructure while making a significant contribution to India's sustainable energy goals. The awarding of this contract to Gensol highlights the company’s growing expertise and proven track record of delivering renewable energy projects on time.
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.
