Gensol Engineering Stock Price: On January 6, there was a decline, then a rise and finally a decline again in the shares of renewable energy sector company Gensol Engineering. The stock opened in the red on BSE in the morning. During the day it fell by more than 4 percent to a low of Rs 722.60. However, it also gained up to 6 percent during the day and reached a high of Rs 795.40. At the end of trading, the stock settled at Rs 740.50, down more than 1 percent.
The reason for the rise in the stock was that the company has got a new EPC contract worth about Rs 1061.97 crore. The stock exchanges have been told that Gensol Engineering has got this contract from a well-known government company. The contract is for the development of a 275MW solar PV project at RE Solar Park located at Khavra in the Rann of Kutch, Gujarat. The contract covers operations and maintenance for 3 years.
Gensol Engineering shares became 1700 percent expensive in 3 years
The stock has become cheaper by 26 percent in the last 6 months. And the price has increased 1700 percent in 3 years. The stock had seen a 52-week high of Rs 1,377.10 on February 20, 2024 on BSE. 52 week low of Rs 712 was recorded on 26 December 2024.
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Promoters hold 62.58 percent stake
According to BSE data, promoters held 62.58 percent stake in Gensol Engineering by the end of September 2024. The company specializes in engineering, procurement and construction (EPC) services in the solar power sector. Shilpa Urhekar, CEO, Solar EPC (India), Gensol Engineering Limited, said that we have started the calendar year 2025 on a great note. According to the company’s statement in its exchange filing, the move is in line with the government’s vision to meet India’s growing demand for clean and sustainable energy.
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