Gensol Engineering touches the roof on emerging as winning bidder for solar projects in Gujarat
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Gensol Engineering is currently trading at its upper limit of Rs. 983.90, up by 46.85 points or 5.00% from its previous closing of Rs. 937.05 on the BSE.
The scrip opened at Rs. 983.90 and has touched a high and low of Rs. 983.90 and Rs. 950.50 respectively. So far 47777 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. 459.87 on 24-Jul-2023.
Last one week high and low of the scrip stood at Rs. 983.90 and Rs. 922.00 respectively. The current market cap of the company is Rs. 3726.31 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 emerged as winning bidder for 116 MW (150 MWp) of solar projects in Gujarat with around EPC revenue of Rs 600 crore. These projects will be distributed across 27 diverse locations, all under the purview of Paschim Gujarat Vij Co. (PGVCL), the state electricity distribution company.
These projects aim for feeder-level solarisation and are anticipated to be operational within 12 months following the issuance of the Letter of Award (LoA).
The solarisation of agricultural feeders that are either already segregated or primarily serve agricultural loads by installing grid-connected solar projects to meet their annual power requirements. At the feeder level, solar power projects can be deployed to fulfil the power needs of single or multiple agricultural feeders from a distribution sub-station.
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.
