Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; bags project worth Rs 101 crore in Dubai!
Shares of the company have gained about 110 per cent in the last six months.
Shares of Gensol Engineering Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 1990.00. The stock has witnessed heavy buying activity from investors in the last two days. Hence, the stock is locked in the upper circuit.
The company recently bagged two turnkey international Solar Engineering, Procurement, and Construction (Solar EPC) projects in Dubai with Dubai Government Workshop Warehouse and Dubai Police. The order is worth Rs 101 crore.
The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 144.60 crore which grew by 41.31 per cent YoY. The operating profit of the company stood at Rs 43.73 crore, while the PAT of the company stood at Rs 10.04 crore, representing a growth of 2.97 per cent YoY.
Gensol Engineering Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 59.85 on September 04, 2020, to Rs 1923.15 on September 01, 2023, an increase of about 3200 per cent in three years holding period.
Gensol Engineering Limited is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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