1500 per cent returns: Heavy buying witnessed in this small-cap multibagger stock!
The scrip experienced a significant increase in volume, more than doubling its normal levels
On Monday, the shares of Gensol Engineering surged by more than 8 per cent, reaching an intraday high of Rs 1040 per share on the BSE. The scrip experienced a significant increase in volume, more than doubling its normal levels.
In FY23, the company's total revenue soared by 145 per cent from FY22, amounting to Rs 397.4 crore. The EBITDA level of the company reached Rs 61.8 crore, showing a remarkable year-on-year growth of 196 per cent. Additionally, the net profit of the company surged by 125 per cent from FY22, reaching Rs 24.9 crore.
In recent news, Gensol Engineering achieved noteworthy milestones in the renewable energy sector. They secured a bid for the development of 30 MWac floating solar projects valued at Rs. 232.49 crore. Moreover, they received purchase orders for solar power projects with a total capacity of over 247 MWp.
It is worth noting that a prominent Independent Power Producer (IPP) awarded them a contract to develop 180 MWp ground-mount projects in Gujarat. Gensol Engineering also expanded its portfolio through the acquisition of Scorpius Trackers Pvt Ltd, a reputable solar trackers specialist in India. These achievements demonstrate the company's expertise and dedication to the expansion of renewable energy.
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Gensol Engineering Ltd is primarily involved in solar consulting and EPC (Engineering, Procurement, and Construction) services. Their range of services includes solar advisory, solar EPC, solar O&M (Operation and Maintenance), as well as solar monitoring and analysis. They also provide specialized consultancy services for extra-high voltage (EHV) transmission lines.
Over the past three years, the stock has witnessed substantial buying, delivering multibagger returns of over 1500 per cent. Furthermore, the stock has surged by more than 110 per cent in the last year. It is advisable to keep a close watch on this trending multibagger stock in the upcoming trading sessions.