Multibagger Update: This renewable energy stock records fresh all time high and freezes at 10 per cent upper circuit! Do you own it?

Gensol Engineering Ltd is engaged in the business of solar consulting & EPC.

Gensol Engineering seems to be firing on all cylinders. Shares of the company zoomed 10 per cent on Monday to record a fresh 52 week high of Rs 579.70 per share on BSE. 

Shares of Gensol Engineering have more than doubled in less than three months. Year to date the stock is up by ~386 per cent and over the last five trading sessions, the stock has furnished returns of 31.75 per cent.

For Q4FY22, the company recorded net sales and other operating income of Rs 126.80 crore thereby, posting a growth of 183.89 per cent from Rs 44.66 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 16.84 crore in Q4FY22 as compared to an operating profit of Rs 4.39 crore in Q4FY21. Q4FY22 registered a net profit of Rs 8.80 crore in comparison with the net profit of Rs 2.28 crore in the same quarter of the previous year, surging 285.33 per cent.       

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 & analysis. It also provides dedicated consultancy services for extra-high voltage (EHV) transmission lines. It has achieved financial closure of Rs 267.7 crore for the EV vertical while its current solar book order stands at Rs 187.2 crore. Solar assets deployed by the company are helping to reduce emissions of 5,14,500 MT CO2 annually.   

In a recent filing with the exchange, it has been disclosed that Puneet Singh Jaggi, promoter and Whole-Time Director of Gensol Engineering has purchased 2,660 equity shares representing 0.025 per cent of the company's outstanding share capital through the open market. Currently, Puneet Singh Jaggi's holding stands at 21.305 per cent. 

Investors should keep a close eye on this stock during tomorrow’s session.