Gensol Engineering Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

The domestic equity benchmarks traded with moderate gains in afternoon trade. The Nifty traded above the 22,700 level. Oil & gas, media and metal stocks advanced while pharma and auto stocks declined. Trading was volatile due to the expiry of weekly index options on the NSE.

At 13:27 IST, the barometer index, the S&P BSE Sensex, was up 284.06 points or 0.37% to 74,958.05. The Nifty 50 index added 86.75 points or 0.38% to 22,729.50.

In the broader market, the S&P BSE Mid-Cap index added 0.95% and the S&P BSE Small-Cap index rose 0.48%.

The market breadth was negative. On the BSE, 1,853 shares rose and 1,886 shares fell. A total of 121 shares were unchanged.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.

Gainers & Losers:

Coal India (up 3.24%), Bharat Petroleum Corporation (BPCL) (up 2.33%), Kotak Mahindra Bank (up 2.40%) Hindalco Industries (up 1.55%) and Tech Mahindra (up 1.52%) major Nifty gainers.

Cipla (down 2.60%), Maruti Suzuki India (down 1.73%), HDFC Life Insurance Company (down 1.38%), Divi's Laboratories (down 1.10%) and SBI Life Insurance Company (down 0.70%) were major Nifty losers.

Stocks in Spotlight:

Gensol Engineering rose 0.24%.The company reported a robust order book of Rs 1,783 crore at the beginning of FY25.

Paisalo Digital rallied 4.18% after the company’s assets under management (AUM) grew by 32% to approximately Rs 4,622 crore as of 31 March 2024 as compared to Rs 3,492 crore as of 31 March 2023.

Shyam Metalics and Energy added 2.04% after the company established a new stainless steel hot rolled coils (HRC) facility at its existing plant in Sambalpur, Odisha as a part of its expansion plan.

One 97 Communications shed 1.06%. The company said that its associate entity, Paytm Payments Bank’s (PPBL) managing director and CEO (MD& CEO) Surinder Chawla has tendered his resignation on 8 April 2024, on account of personal reasons and to explore better career prospects.

Lemon Tree Hotels added 1.42% after the company announced their entry into Nepal with the opening of Lemon Tree Premier at Budhanilkantha, Kathmandu.

Global Markets:

European stocks traded higher while Asian stocks traded mixed on Wednesday as of Japan’s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand’s central banks.

South Korea’s markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan’s corporate goods price index rose 0.8% in March from a year ago, accelerating from the revised 0.7% increase in February.

U.S. stock indexes ended nearly flat on Tuesday, pressured by financial-sector stocks as investors awaited a key inflation reading and braced for major banks to kick off earnings-reporting season later this week. The widely watched report on March's consumer-price index is due on Wednesday.

Powered by Capital Market - Live News

The frontline indices traded with minor gains in early afternoon trade. The Nifty hovered above the 22,700 level. Media shares advanced after declining in the past four trading sessions. Trading was volatile due to the expiry of weekly index options on the NSE.

At 12:27 IST, the barometer index, the S&P BSE Sensex, was up 208.82 points or 0.28% to 74,892.52. The Nifty 50 index added 58.80 points or 0.26% to 22,701.55.

In the broader market, The S&P BSE Mid-Cap index rose 0.52% and the S&P BSE Small-Cap index added 0.12%.

The market breadth was negative. On the BSE, 1,684 shares rose and 1,906 shares fell. A total of 145 shares were unchanged.

Due to the observance of Ramadan Eid on 11 April 2024, the domestic market will be closed. Consequently, the Nifty weekly options expiry has been shifted to today.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.48% to 11.30. The Nifty 25 April 2024 futures were trading at 22,777, at a premium of 75.45 points as compared with the spot at 22,701.55.

The Nifty option chain for the 25 April 2024 expiry showed maximum Call OI of 31.3 lakh contracts at the 23,000 strike price. Maximum Put OI of 48.2 lakh contracts were seen at 22,500 strike price.

Buzzing Index:

The Nifty Media rose 1.09% to 1,898. The index declined 2.50% in the past four trading sessions.

Sun TV Network (up 4.64%), Zee Entertainment Enterprises (up 1.3%), PVR Inox (up 0.76%), Tips Industries (up 0.15%) advanced.

On the other hand, TV18 Broadcast (down 1.25%), Hathway Cable & Datacom (down 1.16%) and Dish TV India (down 0.8%) edged lower.

Stocks in Spotlight:

Gensol Engineering rose 0.60%.The company reported a robust order book of Rs 1,783 crore at the beginning of FY25.

One 97 Communications shed 0.47%. The company said that its associate entity, Paytm Payments Bank’s (PPBL) managing director and CEO (MD& CEO) Surinder Chawla has tendered his resignation on 8 April 2024, on account of personal reasons and to explore better career prospects.

Powered by Capital Market - Live News

For FY25, the company has secured an order worth Rs 1,448 crore from Solar EPC (India and Middle East including scorpius trackers). Additionally, it has bagged another order worth Rs 335 crore from Let'sEV (EV leasing business).

Anmol Singh Jaggi, chairman and MD of Gensol Engineering, said, “Our order book for FY25 is at Rs 1,783 crore highlighting growing demand for our renewable energy and eMobility solutions. This order book will be executed over the next 12 months.

This achievement solidifies our status as a frontrunner in Solar EPC, Solar tracking and EV Leasing industry, emphasising our commitment to growth.”

Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.

The company reported a consolidated net profit of Rs 13.12 crore in Q3 FY24 as against a net loss of Rs 1.90 crore. Revenue from operations stood at Rs 220.25 crore in Q3 FY24, steeply higher from Rs 50.79 crore in Q3 FY23.

Powered by Capital Market - Live News

Gensol Engineering has received significant order book that stands at an impressive Rs. 1783 crore in the beginning of FY25, signaling a promising year and solidifying its position as a key player in the renewable energy and electric mobility industry.

Gensol's diverse order book showcases its involvement in multiple sectors, each contributing significantly to its overall portfolio. These include solar EPC business and EV leasing business contributing Rs 1448 crore and Rs 335 crore respectively.  

Powered by Capital Market - Live News