3700 per cent returns and FIIs & DIIs increase stake: This multibagger solar company bags a new order worth Rs 301 crore!

Shares of the company gained more than 100 per cent in the last six months.

Gensol Engineering Limited has won a contract from Maharashtra State Power Generation Co. Ltd. to design, engineer, procure, install, test, and commission a 62 MWAC solar PV power plant in Maharashtra. The project will use solar trackers to optimize energy production, and Gensol will also be responsible for building the associated HT overhead transmission line & underground cable and electrical equipment, as well as providing 5 years of operation and maintenance services. The contract value is Rs 301.55 crores, and the project is expected to be completed within 12 months.

The company recently also issued bonus shares to its investors. The company has delivered multibagger returns of over 3,700 per cent in the last three years. FIIs and DIIs have increased their stake in the company to 2.57 and 0.75 per cent in September 2023 respectively.

Also read, Investing or Trading: Which Path Is Right for You?

Gensol Engineering Limited is a part of the Gensol group of companies, which offers engineering, procurement, and construction services for the development of solar power plants. Gensol has successfully installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW. Expanding its operations, Gensol has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.