The surge in price comes as the company has won a bid of manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
Share Market News: Shares of Gensol Engineering surged around 8 per cent on Monday i.e. February 12. The counter opened at Rs 1188.95 and surged 7.8 per cent to hit day’s high of Rs 1197. The counter had closed at Rs 1110.10 in the last trading session. The surge in price comes as the company has won a bid of 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. This aligns with the national Green Hydrogen Mission, bolstered by the Production Linked Incentive (PLI) scheme, underpinning our collective pursuit of net-zero emissions and sustainable development,” the company said in an exchange filing.
Meanwhile, Equity benchmark indices witnessed see-saw movements in early trade on Monday, mainly tracking mixed trends in global markets. Opening on a positive note, the 30-share BSE Sensex climbed 52.48 points or 0.07 per cent, to 71,647.97 points in early trade.
However, it shed the gains and fell 147.85 points or 0.21 per cent to 71,447.64 points.
Similarly, the broader Nifty rose 30.70 points or 0.14 per cent to 21,813.20 points before declining 44.60 points or 0.20 per cent to 21,737.90 points.
In the Sensex pack, Wipro, HCL, Tech Mahindra and Infosys were the major gainers while PowerGrid, Hindustan Unilever, Reliance, Bharti Airtel and ICICI Bank were among the laggards.
In Asia, Tokyo’s Nikkei 225 and China’s Shanghai Composite were trading marginally higher. Hong Kong’s Hang Seng was in the red.
On Friday, European markets closed in the negative territory while the US stocks ended on a mixed note. Global oil benchmark Brent crude declined 0.52 per cent to USD 81.76 a barrel on Monday.
Disclaimer: The article is for informational purposes only and not investment advice.