Gensol Engineering shares were in focus on Monday as the company has secured a new order from a leading public sector utility in Maharashtra. According to an exchange filing, the order is related to the development of a 150 MWac ground-mounted solar PV power plant.
Gensol Engineering Contract Value
The total value of the contract is Rs 780 Crore and the company said that the project needs to be completed in over a 15-month period.
Also, the contract includes three years of operation and maintenance (O&M) services for the project. This will be inclusive of the maintenance of the plant’s switchyard and its extensive transmission infrastructure.
“Gensol’s role will encompass the entire gamut of the project’s lifecycle —from the complex and critical task of land acquisition, highlighting the scale and intricacy of the undertaking, to the
precise and detailed phases of design, engineering, procurement, and logistics,” the company said in an exchange filing.
ALSO READ: Q2 Results: Servotech Power Systems reports three-fold rise in net profit
As a result of this announcement, the counter remained in action on Monday as is started the session in green at Rs 856.60 on the BSE. It gained further to touch the high of Rs 860. The scrip ended the session at Rs 839.05 – a gain of 2.89 per cent from the previous close of Rs 815.50.
Gensol Engineering Share Price
This despite the fact that Benchmark Sensex tanked nearly 942 points to settle at a three-month low of 78,782.24. This is the lowest Similarly, the Nifty crashed below the 24,000 level. The NSE Nifty tanked 309 points or 1.27 per cent to close at 23,995.35 with 42 of its constituents ending lower and eight higher.
The 52-week high of the stock is Rs 1,377.10 and the 52-week low of Rs 720. The market cap of the company is Rs 3,177.73 crore.
This is a multibagger stock which has given a return of 3380.09 per cent in three years. However, the counter has gained 76.11 per cent in two years and 6.32 per cent in one year.