Gensol Engineering witnessed a 5 percent increase in opening trade on January 9, following the execution of a Memorandum of Understanding (MoU) with the Gujarat Government for Electric Vehicle Manufacturing.
As of 9:36 am, Gensol Engineering was trading at ₹839.50 on the NSE, reflecting a gain of 3.82 percent.
The company confirmed the MoU, stating it involves an investment of Rs 2,000 crore for Electric Vehicle Manufacturing and anticipates the creation of approximately 1,500 jobs in the region. The agreement signifies a significant step in Gensol Engineering’s commitment to the electric vehicle sector and aligns with the state’s industrial development initiatives.
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