Do you own this renewable energy multibagger stock that announced to launch EV? It is trading at fresh all-time high!
Shares of Gensol Engineering are up by 743 per cent on a YTD basis!
The shares of Gensol Engineering are seen trading at life highs this week after the company announced its intention to launch EV in January 2023.
In the recent analyst meeting, the promoter announced that it will be launching future-ready three-wheel EVs in both the cargo as well as passenger vehicle segments. Anmol Jaggi, the brain behind one of the fastest wealth creators of 2022, explained that it intends not only to cater to the Indian markets but also, aims to export EVs.
Gensol Engineering, with its key strength of project execution, is focussing on clean energy and has a proven track record of executing solar EPC projects. The company is on a high growth trajectory and finds itself in a sector with untapped opportunities in the form of affordable EVs.
Gensol Engineering, with its track record of spotting opportunities earlier than the industry, is aiming to gain leadership in the affordable EV space. With its lofty and yet realistic goals of launching EVs under sub-Rs 6 lakh, the aim as per the promoter is to create a new segment in the market for the masses. The new affordable EVs will have all the modern features and even a sunroof; thus, aiming to be an appealing product for the masses.
With a fresh trigger in the form of EVs, the shares of Gensol Engineering are high in demand as is reflected by its price volume data on BSE. The new plant set up in Pune (Chakan MIDC) will churn out 1,500 EVs every month as announced on the bourses.
The shares of Gensol Engineering are up by 743 per cent on a YTD basis while in one month alone, they climbed more than 76 per cent. Its shares are up by a whopping 1,735 per cent in one year thereby, making it one of the fastest-listed entities in India.
Investors should keep Gensol Engineering on their watchlist!
On Friday, on an intraday basis, BSE Sensex is up by more than 170 points. Markets are seen climbing the wall of worry and bulls are hoping to see positive momentum in the markets in August as well.