In the last one year, the multibagger stock has gained 114 per cent. Shares of Gensol Engineering have made investors wealthier by 3423 per cent in the last two years.
Stock Market News: Shares of Gensol Engineering Ltd jumped as much as 5 per cent to hit an upper circuit on Thursday i.e. on December 28. The surge in share price comes as the company informed exchanges that its board of directors will soon meet to consider plans to raise funds.
The counter jumped around 5 per cent to hit the upper price band of Rs 803.05 on the BSE. In the last trading session, the counter had closed at Rs 764.85. Shares have a 52-week range of Rs 945.85 – Rs 265.42 on the BSE. The company commands a market cap of Rs 3,041.38 crore as of December 28, as per the BSE website.
“…to consider and approve the proposal of raising of funds by way of issuance equity shares or any other eligible securities (“Securities”) through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the Company,” the company said in an exchange filing.
In the last one year, the multibagger stock has gained 114 per cent. Shares of Gensol Engineering have made investors wealthier by 3423 per cent in the last two years. Earlier, Gensol Engineering issued bonus shares in a 2:1 ratio. Eligible shareholders of the company had received two bonus shares for each share held by them as of the record date.
Disclaimer: The article is for informational purposes only and not investment advice