Shares of Gensol Engineering Ltd rose 5 percent on Friday after the company announced it had bagged multiple orders collectively worth Rs 153.16 crore so far in August. The shares touched an intraday high of Rs 1,706.65. The stock was locked in five percent upper circuit.
Gensol Engineering has bagged orders worth Rs 153.16 crore for developing solar power projects aggregating to a capacity of around 55.8 MW in the states of Jammu and Kashmir, Gujarat, Punjab, Rajasthan, Tamil Nadu, and Telangana, the company said in a regulatory filing.
The company said that five of the seven deals were based on the full turn-key EPC model, while two are Balance of System (BoS) projects. Similarly, while four projects are to be erected over land, the other three will be raised over the rooftops of the factories of the clients.
The company recently ventured into the EV manufacturing market and acquired a majority stake in a US-based EV manufacturing startup. The stock of the company has climbed 1332.35 percent year-to-date.
The stock has soared 3082.3 percent in a year and has surged nearly 28 times since December.
Gensol Engineering Ltd, an EPC and solar advisory services provider, was incorporated in 2012 and is part of the Gensol group of companies.
Collectively, Gensol has erected solar power plants of over 350 MW capacity on the ground and rooftops so far. With international reach, it provides consulting services to Kenya, Ukraine, Oman, Gabon, Sierra Leone, Nepal, Afghanistan, Indonesia, Philippines and Chad.
First Published: Aug 26, 2022 1:34 PM IST
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