Introduction:
Electric equipment stocks have entered a strategic tie-up to transfer 2,997 electric vehicles, aiming to enhance sustainable mobility across key Indian cities and bolster their market presence.
Share Price movement of Gensol Engineering:
As of today, January 16, 2025, Gensol Engineering Ltd shares opened at ₹755.00, peaked at ₹783.65, and dipped to a low of ₹751.45. The current price stands at ₹763.60, marking a 4.74% increase from the previous close, with a market cap of ₹2901.87 Cr.
Gensol Engineering’s new tie up:
Gensol Engineering Limited and Refex Green Mobility Limited have announced a significant strategic tie-up involving the transfer of 2,997 electric four-wheelers from Gensol to Refex. This collaboration aims to bolster sustainable mobility solutions in India, with Refex assuming Gensol’s INR 315 Crore loan facility.
Refex Green Mobility will lease the transferred electric vehicles to Blu-Smart Mobility Limited, enhancing electric mobility services in Delhi NCR and Bengaluru. This move is part of Refex’s broader initiative to increase electric car usage, contributing to cleaner transportation solutions.
The transaction requires regulatory and financial approvals to ensure compliance. Anmol Singh Jaggi of Gensol emphasized the strategic importance of deleveraging their balance sheet through this partnership. Both companies are committed to a seamless transition, fostering sustainability and innovation in the electric mobility sector.
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Recent news About Gensol Engineering :
On January 6, 2025, Gensol Engineering Ltd secured a ₹1061.97 crore EPC contract for a 275MW Solar PV Project in Khavda Rann of Kutch, Gujarat, including three years of operation and maintenance, from a renowned public sector undertaking.
Stock performance of Gensol Engineering for Period of 1 week, 6 months and 1 year:
Gensol Engineering’s stock performance has faced challenges, recording a decrease of 3.25% over the past week. Over the last six months, the stock has declined by 22.3%. Looking back over the past year, the stock has decreased by 11.3%, indicating a period of significant contraction.
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Shareholding pattern of Gensol Engineering:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 62.58 | 62.77 | 62.62 |
| FII | 2.3 | 1.98 | 2.39 |
| DII | 0 | 0 | 0.09 |
| Retail & others | 35.13 | 35.25 | 34.88 |
About Gensol Engineering:
Gensol Engineering Limited specializes in providing comprehensive engineering solutions, focusing on solar power consultancy and EPC services. The company leverages its expertise to promote sustainable energy, assisting clients from conceptualization to commissioning, thus enhancing India’s renewable energy infrastructure.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
