Gensol Engineering is buzzing loud today; from its close of Rs.1110.10, the stock opened 7% higher at Rs.1188.95 and rose to an intraday high at Rs.1197, up 8%. Its 52-week high is at Rs.1231.35.
The stock price surged on receipt of an order. It won a bid for manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030.
Established in 2012, Gensol Engineering, the flagship company within the Gensol group, specializes in engineering, procurement, and construction (EPC) services, focusing on the solar power sector, having installed both ground-mounted and rooftop solar installations totalling more than 600 MW. Venturing beyond solar, Gensol has established a state-of-the-art electric vehicle (EV) production facility in Pune, India, dedicated to crafting electric three-wheelers and four-wheelers. This move underscores their commitment to sustainability and innovation, targeting a broad spectrum of customer needs across passenger, fleet, and cargo segments.