Gensol Engineering witnessed a significant uptick in its stock price, rallying by 5 percent intraday on October 25, following the company’s successful bid for a substantial project from Maharashtra State Power Generation Co. Ltd (Mahagenco). The esteemed contract, valued at Rs 301.54 crores, encompasses the conceptualisation, engineering, provisioning, installation, testing, and commissioning of a 62-MWAC Crystalline Solar PV Technology Grid Interactive Solar PV Power Plant.
In addition to the installation, Gensol Engineering has been entrusted with a five-year operation and maintenance commitment, ensuring the seamless functioning of the solar power plant and its associated evacuation mechanism.
As of 2:21 PM, the company’s shares were soaring by 4.65% at ₹877.40, reflecting the positive investor sentiment surrounding this significant contract win.
Notably, the company’s board had taken a strategic decision last week, approving the issuance of bonus shares in the ratio of 2:1. This move further underlines the company’s commitment to enhancing shareholder value and strengthening its market position in the renewable energy sector.
