Shares of Gensol Engineering Ltd were locked in the 5% lower circuit for the eighth consecutive session on April 22, slipping to ₹105.17 on the NSE. The stock has now plunged nearly 40% in just eight trading days, triggering panic among investors.
According to CNBC-TV18, the Enforcement Directorate (ED) is likely to examine the Gensol Engineering case under the Prevention of Money Laundering Act (PMLA). The agency is reportedly studying financial irregularities in the company and may seek further information from various stakeholders, including regulatory bodies.
In a key development, the ED on Sunday confiscated a stake in Gensol Engineering that was allegedly linked to the Mahadev Betting App—a move that intensified investor concerns.
The stock opened and closed at ₹105.17, a sharp fall from the previous close of ₹110.71. With today’s drop, Gensol shares have now hit the lower circuit in eight straight sessions, and are down over 60% from their 52-week high of ₹1,124.90. The company’s market cap has eroded to ₹4.04 billion.
Gensol Engineering Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Apr 21 2025
|
₹110.71
|
₹110.71
|
-5.00%
|
|
Thu, Apr 17 2025
|
₹116.54
|
₹116.54
|
-5.00%
|
|
Wed, Apr 16 2025
|
₹122.68
|
₹122.68
|
-5.00%
|
|
Tue, Apr 15 2025
|
₹126.02
|
₹129.14
|
-2.65%
|
|
Fri, Apr 11 2025
|
₹132.66
|
₹132.66
|
-5.01%
|
|
Wed, Apr 9 2025
|
₹139.65
|
₹139.65
|
-5.00%
|
|
Tue, Apr 8 2025
|
₹147.00
|
₹147.00
|
-5.00%
|
|
Mon, Apr 7 2025
|
₹154.74
|
₹154.74
|
-5.00%
|
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