Gensol Engineering shares in focus today on order win from NTPC 

Shares of Gensol Engineering Ltd are in news today after the firm said it has secured an EPC contract worth Rs 897.47 crore from NTPC Renewable Energy Development for 225 MW grid-connected solar PV projects at GSECL Solar Park (Stage-III), Khavda, Gujarat. The project includes three years of operation and maintenance.

Gensol Engineering stock slipped 4.61% to Rs 713.35 on Thursday against the previous close of Rs 747.80 on BSE. Market cap of Gensol Engineering fell to Rs 2701.66 crore. Gensol Engineering stock has lost 6.33% in one year and fallen 16% since the beginning of this year. The stock has a one-year beta of 0.6, indicating low volatility during the period.

Total 0.59 lakh shares changed hands amounting to turnover of Rs 4.25 crore on BSE.

"This contract entails the Development of 225MW-AC (Equivalent To 276 MWDC) Grid Connected Solar PV Projects at GSECL Solar Park (Stage-III), Khavda located in the Rann of Kutch, Gujarat. The total bid value for this project, including operations and maintenance (O&M) for a duration of three years, amounts to approximately INR 897.47 crores, inclusive of taxes and duties. The contract between NTPC REL and Gensol Engineering Limited was formally executed last week, marking a substantial milestone for both entities in their pursuit of advancing renewable energy infrastructure in India," said Gensol.

In terms of technicals, the relative strength index (RSI) of the stock stands at 26, signaling the stock is oversold on charts. Gensol Engineering shares were trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Gensol Engineering is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants.