Promoter Buying: This multibagger renewable energy stock hits a 10 per cent upper circuit!

Over the last 1 month, the stock has furnished phenomenal returns of ~52 per cent. Year-to-date, the stock has delivered returns of a whopping ~312 per cent

On Thursday, shares of Gensol Engineering locked at 10 per cent upper circuit to record a fresh 52-week high of Rs 498 per share on BSE. The stock has doubled in less than four months. Over the last 1 month, the stock has furnished phenomenal returns of ~52 per cent. Year-to-date, the stock has delivered returns of a whopping ~312 per cent. 

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. 

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.   

Watch out for Gensol Engineering in the coming trading sessions!