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!

Shares of the company have gained more than 80 per cent in the last six months.

Gensol Engineering has received a major boost, securing a contract for a 33 MW AC solar power project from steel giant Sarda Energy & Minerals Ltd. (SEML) in Chhattisgarh. This significant project for SEML's Kharora plant marks Gensol's strategic entry into the region's booming industrial sector.

The contract, valued at over Rs 138 crore, encompasses the entire project lifecycle from design and engineering to procurement, construction, and commissioning. It showcases Gensol's expertise and commitment to renewables while solidifying SEML's trust in its delivery excellence.

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The project is scheduled for completion within 6 months, this milestone project marks Gensol's strategic entry into the Chhattisgarh market, opening doors for future growth and collaborations. The successful execution of this project will further strengthen Gensol's position as a leading player in India's renewable energy landscape. The company also plans to raise up to Rs 300 crores by issuing new shares or other securities through various methods like public offerings, private placements, or QIPs.

The company has also delivered multibagger returns of over 4,000 per cent in the last three years. FIIs and DIIs increased their stake in the company in September 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.

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