This multibagger renewable energy stock of 2022 hit a fresh all-time high on July 15!

Over the last one month, Gensol Engineering has furnished mind boggling returns of 44.53 per cent!

On Friday, the shares of Gensol Engineering were locked at a 5 per cent upper circuit, recording a fresh 52-week high of Rs 682.40 per share on BSE. The scrip has more than doubled in less than three months. Year-to-date, the stock is up by 367 per cent and over the last one month, it has furnished returns of 44.53 per cent. 

In the first week of July, the company signed a term sheet to pick up a majority stake in a US-based electric vehicle manufacturing startup. The investment is intended to accelerate the company’s plan to deliver a robust domestically-manufactured EV in India. With this deal, the company foresees an increment in revenue by Rs 500 crore-Rs 600 crore for FY24. 

On June 23, 2022, the company disclosed that Puneet Singh Jaggi, Promoter & Whole-Time Director of Gensol Engineering, purchased 2,660 equity shares, representing 0.025 per cent of its outstanding share capital through the open market. Currently, Puneet Singh Jaggi's holding stands at 21.305 per cent.  

BSE Limited had consented to list approximately 1.09 crore equity shares of Gensol Engineering from BSE SME platform to the main board of BSE Limited vide in-principle approval letter dated June 10, 2022. 

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. 

The company is currently in a phenomenal roll, growing by leaps & bounds. Investors must keep a close eye on this stock in the coming trading sessions!