Mukul Agarwal portfolio: Shares of Gensol Engineering Ltd have been in consolidation phase after trading ex-bonus on 17th October 2023. The energy stock traded ex-bonus for finalising eligible shareholders for issuance of 2:1 bonus shares. This means, two bonus shares were issued for evey one share held by eligible beneficiaries. However, the stock is in news for attracting attention of ace investor Mukul Agarwal. As per the shareholding pattern of Gensol Engineering Ltd for July to September 2023 quarter, Mukul Agarwal's name has appeared in the list of individual shareholders.
As per the shareholding pattern of Gensil Engineering Ltd for Q2FY24, Mukul Agarwal holds two lakh company shares, which is 1.64 per cent of total paid up capital of the company. However, in shareholding pattern of the company for April to June 2023 quarter, Mukul Agarwal's name was missing. This means, the ace investor of the Indian stock market bought fresh shares of the company during July to September 2023 quarter.
However, it would be difficult to ascertain whether Mukul Agarwal bought all these two lakh company shares in one go or he bought these shares in caliberated manner. It is also possible that Mukul Agarwal held some company stocks earlier but that shareholding was below one per cent of total paid up capital of the company.
As per the exchange rules, a listed company is bound to share names of individual shareholders if their shareholding is one per cent or more. However, it is not mandatory for the listed company to share details of buying and selling of stocks.
Advising long term investors to add this energy stock in portfolio, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Gensol Engineering Ltd deals in two segment — solar energy and electric vehicles. They run electric cab subsidiary company BlueSmart in Delhi NCR, which they are planning to expand at pan India levels. The energy company is also planning to launch electric four wheeler in near term."
Gorakshkar went on to add that order book of the company is also strong. However, Gensol Engineering stock is suitable for investors not for traders. He said that the energy stock will give stellar return in long term.
On what technnical chart suggests, Sumeet Bagadia, Executive Director at Choice Broking said, "Those shareholders who have this stock in portfolio should maintain strict stop loss at ₹750 levels. Whereas high risk investors interested in bottom fishing are advised to maintain buy on dips strategy maintaining strict stop loss at ₹750 per share levels. Stock is currently in consolidation phase. Bullish or bearish trend can be assumed on breakage of either side of its current ₹750 to ₹870 range."
On Thursday, Gensol Engineering Limited informed Indian exchanges that it has been identified as the lowest bidder for Engineering, Procurement and Commissioning (EPC) contract for a groundbreaking green hydrogenbased mobility station in Kargil, Ladakh. Gensol has secured this project by demonstrating the technocommercial competency in collaboration with Matrix Gas & Renewables Ltd. (Matrix). This notable project, to be commissioned by the National Hydroelectric Power Corporation Ltd. (NHPC), is aimed at operating buses powered by hydrogen fuel cells within the region. This initiative is in line with the government's ambitious targets for green hydrogen energy.
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 decision.
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