Lower circuit to upper circuit: Only buyers in this renewable energy stock that soared over 1,200 per cent on a YTD basis!

Several other names such as KPI Green Energy, NIBE, Adani Green, Olectra Greentech, and Solex Energy are already catching investors' attention thereby, riding the positive trend in ESG investing

The shares of multibagger Gensol Engineering got locked in the upper circuit during Tuesday’s trading session even as Nifty closed comfortably above the 18,000 level. Gensol Engineering shares have been buzzing lately, owing to its outstanding performance on the bourses. Its shares surged 1,238 per cent on a YTD basis while in one year, the stock climbed a whopping 2,379 per cent. However, since its high of Rs 1,975 made on September 1, the stock has tumbled approximately 19 per cent.   

Gensol Engineering has ambitious plans to launch affordable EVs in the Indian markets. The company has set up a manufacturing plant at Chakan Industrial Zone in Pune (Maharashtra) to develop electric cars from next year. The plant will have a capacity of 12,000 cars per year in the first phase. For this, the company will be hiring a team of more than 150 automobile engineers and designers for the plant. Gensol will begin manufacturing three-wheeled EVs from October 2022 and commence developing compact cars in FY24.  

Gensol Engineering is one of the several stocks that stand to benefit from the ESG investing trend.   

Several other names such as KPI Green Energy, NIBE, Adani Green, Olectra Greentech, and Solex Energy are already catching investors' attention thereby, riding the positive trend in ESG investing.