Mukul Agarwal takes a fresh entry in this small-cap multibagger stock; company announces a 2:1 bonus

The company has announced a generous 2:1 bonus share issuance, adding yet another layer of allure to this already captivating stock.

Tuesday, October 10th, 2023, will be etched in the annals of Indian financial history as a day of resounding triumph. Not only have the Indian benchmark indices made a stunning recovery, clawing back from a turbulent start to the week, but a Small-Cap gem has soared to new heights on the National Stock Exchange (NSE).

Meet Gensol Engineering Ltd (GEL)., a company that came into existence in 2012 and has since evolved into the flag bearer of the Gensol Group, boasting a remarkable track record spanning over a decade in the renewable power sector. Gensol Engineering Ltd., or GEL for short, operates on two primary revenue streams: Solar EPC income and Electric Vehicle leasing income.

GEL is a powerhouse in providing solar advisory services and EPC (Engineering, Procurement, and Construction) services for solar power projects. Their scope encompasses everything from crafting detailed project reports, techno-commercial assessments, vendor finalizations, procurement, equipment testing, and meticulous supervision of project execution. Furthermore, GEL is set to witness a significant surge in revenue from its Electric Vehicle leasing business starting in FY23, thanks to a promising partnership with Blu-Smart.

On this momentous Tuesday, GEL achieved an intraday high of Rs 2,266.90, a feat that etched its name into the annals of NSE history with a fresh all-time high. As the sun set on this remarkable day, the stock continued to bask in glory, trading up by over 5 percent at Rs 2,224.

Now, what's the driving force behind this extraordinary upswing? Look no further than the illustrious Mukul Mahavir Agarwal, renowned as the "Shehansha" of small-cap stocks. In the latest shareholding pattern for September 2023, Mr. Agarwal's name is proudly emblazoned, as he holds a 1.64 percent stake in GEL, amounting to a staggering 200,000 shares. He has taken a fresh entry in Q2FY24

But the excitement doesn't end there. Gensol Engineering Ltd. has set October 17, 2023, as the Record Date to determine eligible shareholders who will receive bonus Shares. The company has announced a generous 2:1 bonus share issuance, adding yet another layer of allure to this already captivating stock.

If you haven't been following this remarkable journey, it's time to sit up and take notice. GEL has transformed into a multibagger, surging by over 100 per cent in the last year alone. If you are one of the fortunate individuals who hold this stock, do share your thoughts in the comments section below.

Disclaimer: The article is for informational purposes only and not investment advice.