4,000 per cent returns & Rs 531 crore order book: Multibagger stock hit upper circuit as it signs MoU worth Rs 2,000 crore with Government of Gujarat – know more here!

The stock gave multibagger returns of 150 per cent in just 1 year and a whopping 4,000 per cent in 3 years.

In a historic union, Gensol Engineering Limited, a renewable energy and electric mobility leader, has partnered with the Government of Gujarat, igniting India's path to a sustainable future. This Rs 2,000 crore powerhouse alliance, marked by a landmark MoU signed in the presence of Chief Minister Shri Bhupendra Patel, will bring a state-of-the-art Gensol EV manufacturing plant, empowering 1,500 individuals through green jobs and enriching Gujarat's EV ecosystem with a diverse portfolio of passenger and commercial vehicles.

This strategic alignment not only fuels innovation and economic growth but also reaffirms both parties' unwavering commitment to India's green vision, propelling the nation towards a cleaner and greener future in line with its net-zero goal by 2070.

Earlier, Gensol Engineering, partnered with India's leading steel producer and top ferro alloy exporter SEML and has secured a contract to build a 33 MW captive solar power plant for SEML's Chhattisgarh plant, expanding Gensol's renewable energy portfolio in the region and showcasing their commitment to the sector through comprehensive project management from design to commissioning, solidifying SEML's trust in Gensol's excellence. This Rs 138.72 crore project, scheduled for completion within 6 months, marks a significant milestone for Gensol.

Today, shares of Gensol Engineering Ltd hit a 5 per cent upper circuit to Rs 843.75 per share from its previous closing of Rs 803.06 with a spurt in volume by more than 1.14 times on BSE. The company has a market cap of over Rs 3,200 crore and as of September 30, 2023, the company’s order book stands at Rs 531 crore & FIIs increased their stake to 2.57 per cent. An ace investor, Mukul Agrawal holds a significant stake (1.64 per cent) in the company.

Gensol Engineering Limited provides renewable energy project development services. The Company constructs solar plants. Gensol Engineering serves customers in India. The company also manufactures electric vehicles.  

The shares of the company have an ROE of 21.4 per cent and an ROCE of 12.4 per cent. The stock gave multibagger returns of 150 per cent in just 1 year and a whopping 4,000 per cent in 3 years.

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