Multibagger Stocks: Gensol Engineering Ltd, a company providing renewable energy solutions, is one of the few companies in the stock market, which has given multibagger returns to its investors in the last one year. Shares of Gensol Engineering have gained nearly 16 times in the past one year. At the same time, since its listing in the last 3 years, this company has given a bumper return of 1,909.15 percent to its investors. The Ahmadabad-headquartered company has a market value of Rs 1,560 crore.
In a single year, Gensol Engineering made 1 lakh to 16 lakh
Shares of Gensol Engineering closed on Tuesday, November 1, at a price of Rs 1,274 on NSE. However, a year ago today, on November 2, 2021, the effective price of its shares was only Rs 76.70. In this way, its prices have increased by about 1,561.02 percent in the last one year. This means that if an investor had invested Rs 1 lakh in the shares of Gensol Engineering a year ago today, his value of Rs 1 lakh would have increased to Rs 16.61 lakh today.
As of this year, Gensol Engineering shares are up 969.24%
Similarly, at the beginning of this year, the share price of Gensol Engineering was Rs 119.15, which has now increased to Rs 1,274. That is, so far in the year 2022, the shares of Gensol Engineering have risen by about 969.24 percent. This means that if an investor had invested Rs 1 lakh in the shares of Gensol Engineering earlier this year, his value of Rs 1 lakh today would have increased by 969.24 per cent to Rs 10.69 lakh.
1 lakh made 20 lakh in 3 years
The shares of Gensol Engineering were listed on the stock market on 18 October 2019, about 3 years ago today and since then its shares have gained about 1,909.15 percent. This means that if an investor had invested Rs 1 lakh in its shares on 18 October 2019, today its value of Rs 1 lakh would have increased to around Rs 20 lakh.
The plan to make the country’s cheapest electric car
Ahmadabad-headquartered Gensol Engineering announced plans to build the country’s cheapest electronic car in August this year. If the company’s plan is successful, then Maruti will get the option of electric car at the price of WagonR in India. The company said that it is going to acquire an electric vehicle manufacturing startup for its plan of electric car. This startup is from America. This will give Gensol the technical expertise to make an electric car. Gensol did not name the US startup. He also did not say how much money he paid for its acquisition.
About the company
Gensol Engineering was established in the year 2012. It is a part of the Gensol group of companies, which provides EPC and solar consulting services. The company is in the business of providing technical due diligence, engineering, quality control, construction supervision and other consultancy services for solar projects in several countries including India.
Disclaimer: Based on the performance of the shares, the information provided here has been compiled. Market risk should be kept in mind when taking a position in the market. Investors should always seek the advice of an expert prior to investing their funds.
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