2:1 Bonus Share & Rs 5,025 Crore Order Book: Multibagger Small-Cap Company Incorporates A New Subisdary For Generation Of Any Kind Of Power Or Electric Energy!
From Rs 22.50 to Rs 955.15 per share, the stock gave multibagger returns of 4,145 per cent in 3 years.
Today, shares of Gensol Engineering Ltd surged 1.85 per cent to Rs 955.10 per share from its previous closing of Rs 937.80 per share. The stock’s 52-week high is Rs 1,377.10 per share while the stock is up by 63 per cent from its 52-week low of Rs 596 per share.
Gensol Engineering Limited has acquired a 99.99 per cent stake in Gridstor Energy Private Limited, a newly incorporated company engaged in the business of power generation and distribution using renewable energy sources. This acquisition, made through a cash investment of Rs 99,990, positions Gridstor Energy as a wholly-owned subsidiary of Gensol Engineering Limited. The acquisition aligns with Gensol Engineering Limited's strategic goals of expanding its operations in the renewable energy sector.
Earlier, the company joined forces with Matrix Gas & Renewables Ltd. to secure a significant contract for India's inaugural Bio-Hydrogen project. This partnership will see the consortium convert 25 tons of bio-waste into 1 ton of hydrogen daily, aligning with the nation's Green Hydrogen Mission. The project, valued at Rs 164 crore, is expected to be completed within 18 months. Gensol and Matrix have strategically partnered with Westinghouse, USA, a global leader in plasma gasification technology. The project scope includes setting up a 25 TPD bio-waste processing facility and producing 1 TPD Green Hydrogen using the GH2-PREGS technology. As companies with common promoters, Gensol and Matrix will continue to collaborate in the Green Hydrogen domain, leveraging their combined expertise to explore opportunities in Green Steel and Green Ammonia.
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About Gensol Engineering Ltd
Established in 2012, Gensol Engineering Limited, part of the Gensol group, provides comprehensive engineering, procurement, and construction (EPC) services for solar power plants globally, with a proven track record of installing over 770 MW of solar capacity across ground-mounted and rooftop installations. Committed to sustainability, Gensol is revolutionizing the Indian EV industry by setting up a state-of-the-art manufacturing facility in Pune for electric three-wheelers and four-wheelers, capable of producing 30,000 vehicles annually. Additionally, they offer extensive EV leasing solutions for passenger, fleet, and cargo needs, having already leased over 3,000 EVs with plans to expand significantly. Headquartered in India, Gensol specializes in Solar EPC services, having built solar power plants exceeding 590 MWp globally, and is dedicated to advancing clean energy and electric mobility solutions.
The promoters of the company bought 53,945 shares and increased their stake to 62.77 per cent in June 2024 compared to 62.63 per cent in March 2024. The company has a market cap of over Rs 3,600 crore and as of June 2024, the company has an order book of Rs 5,025 crore. The shares of the company ex-traded bonus shares in the ratio 2:1 on October 17, 2023. From Rs 22.50 to Rs 955.15 per share, the stock gave multibagger returns of 4,145 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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