New Delhi: Shares of Gensol Engineering increased by more than 5 per cent in early trading on Monday after the company announced it has secured a significant turnkey EPC (Engineering, Procurement, and Construction) order from a major public sector utility in Maharashtra. The contract is valued at Rs 780 crore and involves the development of a 150 MWac ground-mounted solar photovoltaic (PV) power plant.
Gensol Engineering Share Price
In the afternoon session, Gensol’s stock rose 5.45 per cent to Rs 860, compared to the previous close of Rs 815.50 on the Bombay Stock Exchange (BSE). The company’s market capitalization climbed to approximately Rs 3,169.96 crore. Over the past year, Gensol’s shares have gained about 6.33 per cent, although they have seen a slight decline of 1.13 per cent since the start of 2024. The stock has a beta of 0.6, indicating lower volatility compared to the market.
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During the trading session, around 0.45 lakh shares changed hands, resulting in a turnover of Rs 3.83 crore. Technically, the relative strength index (RSI) of the stock stands at 49.5, suggesting it is neither overbought nor oversold. Gensol’s shares are currently trading higher than their 5-day, 10-day, 20-day, and 30-day moving averages but lower than the 50-day, 100-day, 150-day, and 200-day moving averages.
The project will involve managing the entire lifecycle, starting from land acquisition to designing, engineering, and procurement. It will also include manufacturing, supplying, erecting, inspecting, installing, testing, and commissioning the solar power plant. The contract further encompasses three years of operation and maintenance (O&M) services, ensuring the plant’s switchyard and transmission infrastructure remain in good condition.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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