Multibagger Update: Only buyers in this renewable energy stock that hit a fresh all-time high!

In one year, the shares of Gensol Engineering have soared over 1,700 per cent, making it one of the most appealing multi-bagger renewable energy stocks.

The shares of Gensol Engineering rallied and locked in the 5 per cent upper circuit on Monday on an intraday basis. Besides, its shares also hit a fresh all-time high on August 1 with markets trading in the green, taking cues from the optimism in the global markets.   

Its shares have risen by more than 731 per cent year-to-date and 76 per cent in a single month. In one year, the shares of Gensol Engineering have soared over 1,700 per cent, making it one of the most appealing multibagger renewable energy stocks. This micro-cap renewable energy company recently achieved a significant milestone by generating revenues in excess of Rs 100 crore in Q1.  

Several new developments within the company are causing investors to be optimistic. In July, the promoter increased their stake in the company. The company also announced the acquisition of stakes in the US-based EV start-up. Gensol's strategic investment is expected to help the company launch affordable 200-kilometre-range e-cars in India. The manufacturing plant is being built in Pune while the company plans to open its R&D centre for technology development and begin production in the first quarter of 2023, with a capacity of 12,000 cars per year in the first phase. For this venture, the company is also hiring a team of more than 150 automobile engineers and designers.  

Gensol Engineering Ltd is engaged in the business of solar consulting & EPC. The company's services include solar advisory, solar EPC, solar O&M along with solar monitoring and analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines.   

Watch out for Gensol Engineering in the upcoming trading sessions!