Shares of Gensol Engineering Ltd rose 6% intra day today after the firm won a significant EPC contract worth Rs 1,061.97 crore. Gensol Engineering stock gained 5.86% to Rs 795.40 on Monday against the previous close of Rs 751.30 on BSE. Market cap of Gensol Engineering rose to Rs 2790.14 crore.
Gensol Engineering stock has lost 10.34% in one year and fallen 27.51% in six months. The stock has a one-year beta of 0.6, indicating low volatility during the period.
Total 0.80 lakh shares changed hands amounting to a turnover of Rs 6.03 crore on BSE.
"Gensol Engineering Limited, a prominent leader in the renewable energy sector specializing in solar power engineering, procurement, and construction (EPC) services, has secured a significant EPC contract from Renowned Public Sector Undertaking for Development of 275MW Solar PV Project at RE Solar Park, Khavda Rann of Kutch, Gujarat, with a total bid value of approximately Rs 1061.97 crore (Including GST), including three years of O&M," said the firm in a communication to bourses.
Shilpa Urhekar, Chief Executive Officer, Solar EPC (India) at Gensol Engineering Ltd said,"We have started Calander Year 2025 on a high note. We have been awarded a prestigious Solar PV project contract from Renowned Public Sector Undertaking at RE Solar Park, Khavda Rann of Kutch, Gujarat. This partnership holds immense value for us, and we are grateful for the continued trust and confidence placed in us by such large RE corporation.”
In terms of technicals, the relative strength index (RSI) of the stock stands at 43, signaling the stock is oversold on charts. Gensol Engineering shares were trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Gensol Engineering is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants.
Meanwhile, Sensex tanked 1344 pts to 77,879 and Nifty slipped 421 pts to 23,784 in afternoon session today.