2:1 Bonus Issue: Multibagger Engineering Stock Hits 52-Week High, Record Date Next Week

Small cap stock from the Engineering sector, Gensol Engineering that announced bonus issue in 2:1 ratio on September 5 hit 52-week high in trade today. Gensol Engineering shares hit upper circuit and 52-week high on October 6 as well. Gensol Engineering stock also witnessed spurt in volume by 1.08 times today. Gensol Engineering shares rallied 106% year-to-date (YTD). Check details below:

Gensol Engineering Stock Performance & Return: Current market price of Gensol Engineering share is Rs 2093.55 per share on BSE with intraday gain of 3.38% or 68.50 points. Its 52-week high price is Rs 2128.80 per share and 52-week low price is Rs 797.05 per share, respectively. The company's market capitalisation is 2558.09 crore. Gensol Engineering stock rallied 54% in last 1-year, gained 2607% in last 2-year, and offered an attractive return of 3433% in last 3-years.

Gensol Engineering Set Oct 20 As Record Date For 2:1 Bonus Issue: As per the company's regulatory filing dated October 5, 2023, "This is further to our letter dated September 05, 2023, intimating the Issue of Bonus Shares. We wish to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, October 17, 2023 as the Record Date to determine eligible shareholders entitled to receive the Bonus Shares."

Gensol Engineering Financials: The company on August 14, 2023 declared a net profit at Rs 10.2 crore for the quarter ended June 30, 2023. Gensol announced Rs 10 crore net profit in the previous fiscal, according to its BSE filing. Gensol Engineering declared a surge in its revenues to Rs 151.7 crore in the first quarter of the current fiscal from Rs 102.9 crore in the last fiscal. Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) announced at Rs 43.7 crore, up from Rs 15.7 crore.

About: Gensol Engineering Limited (GEL), which is a BSE-listed entity and also the flagship company for the Gensol group, was setup in the year 2012 when the solar industry in India was in the stage of its infancy. GEL is dedicated to using technology, engineering and innovation to give its clients the best returns on their capital. It strives to provide support and engineering expertise to clients and investors in Solar Power Sector through its offerings of complete concept to commissioning services for MW scale grid-connected solar power projects.

Disclaimer:

The stock just highlights the bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.