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Business News/ Markets / Stock Markets/  Multibagger stock Gensol Engineering that has surged 3400% in two years hit upper circuit after 100 crore order
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Multibagger stock Gensol Engineering that has surged 3400% in two years hit upper circuit after ₹100 crore order

Multibagger stock has risen from ₹50 to ₹1,747 apiece levels in last two years, turning ₹1 lakh to ₹35 lakh in this time

Multibagger stock has received ₹101 crore order from Dubai Government Workshop Warehouse and Dubai Police. (iStock)Premium
Multibagger stock has received 101 crore order from Dubai Government Workshop Warehouse and Dubai Police. (iStock)

Stock market today: Gensol Engineering shares have been in uptrend since early morning deals. The small-cap stock with a market cap of over 2,150 crore today opened upside and went on to hit intraday high of 1,747 on BSE and hit 5 per cent upper circuit within an hour of opening bell today.

However, this is not the first time when this small-cap multibagger stock has delivered whopping return in small time. The small-cap stock has been generating alpha return for last few years. In YTD time, this multibagger stock has delivered over 70 per cent return to its positional long term shareholders whereas in last six months, Gensol Engineering share price has risen from near 900 to 1,747 apiece levels, giving around 95 per cent return to an investor's money in this time. Similarly, in last two years, this multibagger stock has risen from around 50 to 1,747 apiece levels, turning 1 lakh of an investor into near 35 lakh in this time.

Gensol Engineering news

In its exchange filing today, Gensol Engineering Ltd informed Indian exchanges that it has received export order worth over 101 crore. In this order, the small-cap company would be exporting to mega solar engineering project for Dubai Government Workshop Warehouse and Dubai Police.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we would like to inform you that the Company, in normal course of business, maiden two turnkey international Solar Engineering, Procurement, and Construction (Solar EPC) projects in Dubai with Dubai Government Workshop Warehouse and Dubai Police. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of INR 101.6 Crores, without taking taxes into account,"
Gensol Engineering said.

The multibagger stock is available for trade on both NSE and BSE and its market cap is 2,152 crore. Its current trade bolume on NSE is 1,11,571 and around two hours of trade is still left during Tuesday session. 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
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Updated: 29 Aug 2023, 01:45 PM IST
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