Gensol Engineering Ltd has experienced a consolidation phase post the ex-bonus trading on October 17, 2023, wherein eligible shareholders were determined for the issuance of a 2:1 bonus share. The company garnered attention not only for its bonus shares but also for attracting ace investor Mukul Agarwal. The shareholding pattern for the July to September 2023 quarter reveals Mukul Agarwal as an individual shareholder, holding 2 lakh company shares, equivalent to 1.64% of the total paid-up capital. Interestingly, his name was absent from the shareholding pattern in the April to June 2023 quarter, indicating a fresh investment during the later quarter.
It remains uncertain whether Mukul Agarwal acquired the entire two lakh shares at once or in a calibrated manner. While it’s plausible that he may have held some shares before, they might have been below the one percent threshold of the total paid-up capital, exempting them from disclosure as per exchange rules.
Experts Advice
Experts are advocating for long-term investors to consider adding Gensol Engineering to their portfolios. Avinash Gorakshkar, Head of Research at Profitmart Securities, emphasized the company’s involvement in solar energy and electric vehicles, particularly its expansion plans for the electric cab subsidiary, BlueSmart, and the imminent launch of an electric four-wheeler. With a robust order book, Gorakshkar foresees stellar long-term returns from the energy stock.
Avinash Gorakshkar added, “Gensol Engineering Ltd deals in two segments — solar energy and electric vehicles. They run an electric cab subsidiary company, BlueSmart, in Delhi NCR, which they are planning to expand at the pan-India level. The energy company is also planning to launch an electric four-wheeler in the near term.”
Providing insights from a technical perspective, Sumeet Bagadia, Executive Director at Choice Broking, suggested that shareholders with the stock in their portfolio should maintain a strict stop loss at ₹750 levels. Meanwhile, high-risk investors interested in bottom fishing are advised to adopt a buy-on-dips strategy, maintaining a strict stop loss at ₹750 per share. The stock is currently in a consolidation phase, and Bagadia suggests that a bullish or bearish trend can be anticipated upon breaking either side of its current ₹750 to ₹870 range.
Gensol Engineering news
In recent news, Gensol Engineering Limited announced its status as the lowest bidder for the Engineering, Procurement, and Commissioning (EPC) contract for a groundbreaking green hydrogen-based mobility station in Kargil, Ladakh. The project, commissioned by the National Hydroelectric Power Corporation Ltd. (NHPC), aims to operate buses powered by hydrogen fuel cells within the region, aligning with the government’s ambitious targets for green hydrogen energy.
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