Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; reports a 146 per cent increase in net sales!

Shares of the company have gained more than 80 per cent in the last six months.

Shares of Gensol Engineering Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The company has delivered strong Quarterly Results.

In the recent quarter, Q2FY24, the net sales of the company increased by 146.45 per cent at Rs 199.43 crore for Q2FY24 as compared to Rs 80.92 crore for the corresponding quarter previous year. The company reported a 39.7 per cent rise in its net profit at Rs 11.33 crore for the quarter ended September 30, 2023, as compared to Rs 8.11 crore for the same quarter in the previous year.

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Recently, Gensol and Matrix group bagged NHPC's Kargil Green Hydrogen Mobility Station EPC project – a green hydrogen pioneer! This unique project will fuel hydrogen buses in Ladakh, aligning with India's clean energy goals. Gensol will build a 500 kW solar plant to power the station, while Matrix will handle the hydrogen production and infrastructure.

Gensol Engineering Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 19.95 on January 08, 2021, to Rs 843.20 on December 29, 2023, an increase of about 4127 per cent in a three-year holding period.

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.

The stock has shown tremendous growth, and long-term investors should keep a close eye on this stock.

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