4,500 per cent returns and FIIs & DIIs increase stake: This multibagger EV and solar stock bags 70 MW (140 MWh) battery energy storage project worth Rs 450 crore!
Shares of the company have gained more than 50 per cent in the last six months.
Gensol Engineering Limited has won a significant bid for a battery energy storage project in Gujarat. The company emerged as the lowest bidder for a 70 MW/140 MWh portion of a larger 250 MW/500 MWh Battery Energy Storage System (BESS) tendered by Gujarat Urja Vikas Nigam Limited (GUVNL). This project is one of the first major standalone BESS projects in India, and its success is expected to pave the way for wider adoption of this technology.
The project will utilize a tariff-based bidding model, with Gensol providing on-demand energy storage capacity to Gujarat's power distribution companies during peak and off-peak hours. The system will deliver 70 MW/140 MWh of energy for two charge/discharge cycles daily, contributing Rs 450 crore to Gensol's revenue over the contract period.
Also read, Intraday Trading vs. Long-Term Investing: Exploring the Risks and Rewards
Gensol's win highlights their expertise in Engineering, Procurement, and Construction (EPC) services and their commitment to integrating advanced energy storage solutions. The company will provide state-of-the-art technology that meets stringent performance requirements. The company has also delivered multibagger returns of about 4,500 per cent in the last three years. FIIs and DIIs increased their stake in the company in December 2023 respectively.
Gensol Engineering Limited offers engineering, procurement, and construction (EPC) services for the development of solar power plants. Expanding its operations, Gensol has also established a cutting-edge electric vehicle (EV) manufacturing facility in Pune, India, for the development and production of electric three-wheelers and four-wheelers. Mukul Agrawal has 1.51 per cent stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Related articles
-
4,000 per cent returns and FIIs & DIIs increase stake: This multibagger EV and solar stock bags new order worth Rs 138.72 crore for solar power project!
-
3700 per cent returns and FIIs & DIIs increase stake: This multibagger solar company bags a new order worth Rs 301 crore!
-
Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; bags project worth Rs 101 crore in Dubai!
-
400 per cent Multibagger Returns in Just 6 Months: This Solar Company Secures Order Worth Rs 13,19,00,000 for 4 MWp Solar Power Project!
-
6,400 per cent multibagger returns and Rs 1,176 crore order book: This solar EPC stock bags new order worth Rs 1,340 crore from Gujarat Urja Vikas Nigam!
-
This EV Bus Manufacturer Partners with MUON India, a Macquarie Group Company, for 2,000 Electric Buses; Stock Surges Over 120 per cent in Just 1 Year!
-
Debt-Free Solar Project Management Company Bags Order Worth Rs 47,00,000 from Paradip Port Authority, Odisha; Recently Secured Order from HPCL
-
73,000 per cent multibagger returns: This multibagger small-cap renewable energy company bags order worth Rs 65,22,00,000 for solar power project!
-
Heavy buying: Back-to-back upper circuit in this multibagger solar power stock; reports a 340 per cent jump in PAT!
-
Multibagger solar product and EV chargers manufacturing stock at Rs 85 - Company signs MoU with 3ECO; details inside!
-
19,500 per cent multibagger returns: This low-price EV manufacturer gets approval from Transport Department, Uttarakhand to sell EVs!
-
An FII-Eminence Global Fund PCC is allotted 15,00,000 equity shares on conversion of warrants of this solar product and EV chargers manufacturing company!
-
Multibagger EV-stock at Rs 80: This micro-cap company receives a licence for battery-operated E-Rickshaw in Gujarat state!
-
9,300 per cent returns: This multibagger solar power stock bags new order for 74.3 MW Solar Power Project!
-
Multibagger EV stock at Rs 94 in green as Board approved conversion of 30,00,000 warrants of FIIs into equal number of equity shares of the company!
-
Rs 3,650 crore order win: This multibagger power sector stock secures 300 MW wind-solar hybrid project!
-
Multibagger EV stock at Rs 84.5 & promoters increase stake: This EV charger infra company to build 20 EV charging stations for Nashik Municipal Corporation
-
Rs 5,491 crore project win and FIIs & DIIs increase stake: This multibagger power generation company bags 600 MW solar power project!
-
Heavy buying: Back-to-back upper circuit in this multibagger solar power stock; hits fresh 52-week high!
-
450 per cent returns: This multibagger solar power stock bags new order for 9.40 MW solar power project!