Gensol Engineering shares hit upper circuit as stock trade ex-bonus
Gensol had announced a bonus issue in 2:1 ratio, which meant that eligible shareholders will be getting two bonus shares of the company for each share held by them as of the record date.
- Oct 17, 2023,
- Updated Oct 17, 2023 11:06 AM IST
Shares of Gensol Engineering hit an upper circuit on Tuesday after the stock traded ex-split for the day. The company had announced a bonus issue in 2:1 ratio, which meant that eligible shareholders of the company will be getting two bonus shares of the company for each share held by them as of the record date. The company had fixed Tuesday, October 17, 2023 as the record date for the purpose of bonus issue. It had informed about the same through an exchange filing earlier. The company had announced the bonus issue in the month of September 2023 and the record date was announced later. Shares of Gensol Engineering hit an upper circuit of 10 per cent to trade at Rs 880.95, on an adjusted basis, with a total market capitalization of close to Rs 3,500 crore. The scrip had settled at Rs 800.90 in the previous trading session, post bonus adjusted prices. Shares of Gensol Engineering have rallied more than 40 per cent in the last one month, while the stock has surged more than 175 per cent in the less than three months period. The stock has gained more than 230 per cent from its 52-week low at Rs 265.42. The stock has rallied about 4,800 per cent from its low around Rs 18 in May 2021. In a separate exchange filing on Monday, the company said that it has received trading approval of 4,05,383 equity shares issued on preferential basis to non-promoter category, towards part payment of the total consideration payable for the acquisition of 1,08,108 Equity Shares representing 100 per cent shareholding of the Scorpius Trackers Private Limited. Gensol Engineering offers engineering, procurement, and construction (EPC) services for the development of solar power plants. It also provides solutions for various customer segments - passenger, fleet and cargo. It also offers comprehensive EV leasing and fleet management solutions and is serving customers in the PSU.
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Shares of Gensol Engineering hit an upper circuit on Tuesday after the stock traded ex-split for the day. The company had announced a bonus issue in 2:1 ratio, which meant that eligible shareholders of the company will be getting two bonus shares of the company for each share held by them as of the record date. The company had fixed Tuesday, October 17, 2023 as the record date for the purpose of bonus issue. It had informed about the same through an exchange filing earlier. The company had announced the bonus issue in the month of September 2023 and the record date was announced later. Shares of Gensol Engineering hit an upper circuit of 10 per cent to trade at Rs 880.95, on an adjusted basis, with a total market capitalization of close to Rs 3,500 crore. The scrip had settled at Rs 800.90 in the previous trading session, post bonus adjusted prices. Shares of Gensol Engineering have rallied more than 40 per cent in the last one month, while the stock has surged more than 175 per cent in the less than three months period. The stock has gained more than 230 per cent from its 52-week low at Rs 265.42. The stock has rallied about 4,800 per cent from its low around Rs 18 in May 2021. In a separate exchange filing on Monday, the company said that it has received trading approval of 4,05,383 equity shares issued on preferential basis to non-promoter category, towards part payment of the total consideration payable for the acquisition of 1,08,108 Equity Shares representing 100 per cent shareholding of the Scorpius Trackers Private Limited. Gensol Engineering offers engineering, procurement, and construction (EPC) services for the development of solar power plants. It also provides solutions for various customer segments - passenger, fleet and cargo. It also offers comprehensive EV leasing and fleet management solutions and is serving customers in the PSU.
Also read: Nifty Bank history suggests it may be gearing up for rally after 4 weeks of fall
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