Gensol Engineering shares are up by 75%, hitting the upper circuit
Gensol Engineering shares have climbed around 75 per cent in the last two months, while the scrip has gained close to 120 per cent from its 52-week low.
Gensol Engineering shares struck the upper circuit during the trading session on Thursday ahead of its council meeting planned on Tuesday, September 5, 2023. The firm board should consider bonus equity shares, as stated in the exchange filing with the bourses.
Besides the bonus shares, the company board of Gensol Engineering will even approve the yearly report for 2022-23 and issue the news for its annual general meeting, the filing added further.
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Following the announcement, Gensol Engineering stock closed in the upper circuit limit of 5 per cent to Rs 1831.60, commanding a total market capitalization relative to Rs 2,240 crore. The stock had settled at Rs 1744.40 in its last trading session on Wednesday.
Before this week, Gensol Engineering bagged an order for solar EPC assignments in Dubai, United Arab Emirates (UAE), worth Rs 101.6 crore. It announced two turnkey maiden global solar engineering, procurement, and construction (Solar EPC) assignments with the Dubai Government Workshop Warehouse and the Dubai Police.
Shares of Gensol Engineering have jumped around 90 per cent in the last two months, while the stock has gained almost 135 per cent from its 52-week low. The scrip is up nearly 35 per cent in the present calendar year.
