Gensol Engineering gains 5% on bagging orders worth Rs 153 crore

Shares of Gensol Engineering hit their 5 per cent upper circuit limit in Friday's trade after the company bagged orders worth Rs 153 crore to build 58.8 MW solar projects.

The scrip rose 5 per cent to Rs 1,706.65 on BSE.

In a filing to BSE, the company said that it won orders in the states of J&K, Gujarat, Punjab, Rajasthan, Tamil Nadu and Telangana.


"Out of these seven deals closed by Gensol, five are based on a full turn-key EPC model, while two are Balance of System (BoS) projects. Similarly, while four projects are to be erected over land, the other three will be raised over the rooftops of the factories of the clients," it said.

The company, meanwhile, said that out of the seven projects, four clients have repeated their orders with Gensol.

Gensol Engineering offers 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.

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