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Business News/ Markets / Stock Markets/  Multibagger stock Gensol Engineering to issue bonus shares after 3100% rally in two years
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Multibagger stock Gensol Engineering to issue bonus shares after 3100% rally in two years

Multibagger stock: Gensol Engineering is going to issue bonus shares on 5th September 2023

Multibagger stock has risen from around ₹59 (December 2021) to ₹1,923 apiece levels in last two years. (Bloomberg)Premium
Multibagger stock has risen from around 59 (December 2021) to 1,923 apiece levels in last two years. (Bloomberg)

Bonus shares 2023: Gensol Engineering shares are one of the multibagger stocks that Indian stock market has produced in recent years. The small-cap stock with a market cap of 2,346 crore has doubled shareholders' money in last six month as it has delivered to the tune of 110 per cent return to its shareholders. However, there is one more piece of stock market news for shareholders of this stock. The company has informed Indian stock market exchanges that it is going to issue proposal for bonus shares in its upcoming board meeting scheduled on 5th September 2023.

The multibagger stock informed about the bonus shares proposal citing, "Pursuant to regulation 29 of the SEBI (LODR) Regulation, 2015, notice is hereby given that a meeting of Board of Director of the Company will be held on Tuesday, September 05, 2023, inter-alia to issue bonus shares."

Gensol Engineering share price history

After the outbreak of this stock market news, bulls came forward and bought the small-cap multibagger stock heavily leading to no seller for the multibagger stock. However, the stock is already under the radar of Dalal Street bulls as the small-cap stock has hit upper circuit on two more sessions in this week. This circuit to circuit stock has been hitting upper circuit for the last two straight sessions whereas it hit upper circuit on Tuesday as well. In last six months, this small-cap stock has risen from around 905 to 1923 apiece levels, giving around 110 per cent return to its positional shareholders. In YTD time, this multibagger stock has given 90 per cent return. However, this small-cap stock has remained a money maker stock in post-Covid rebound. In last two years, this multibagger stock has risen from around 59 (In December 2021) to 1,923 apiece levels, delivering around 3,100 per cent return in these near two years.

The multibagger stock is available for trade on both NSE and BSE. Its current trade volume on NSE is 20,580 which means the small-cap stock is a low float stock. Its current market cap is 2,346 crore. Its 52-week high is 1,990 whereas its 52-week low is 797.05 apiece on NSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 01 Sep 2023, 02:48 PM IST
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