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Gensol Engineering shares hit upper circuit as stock trade ex-bonus

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A 2:1 bonus issue was announced by Gensol, which meant that qualified shareholders would get two bonus shares of the firm for every share they owned on the record date.

Additionally, it serves customers in the PSU and provides comprehensive EV leasing and fleet management solutions.
A total market value of close to Rs 3,500 crore was reached by Gensol Engineering shares, which reached an upper circuit of 10% to trade at Rs 880.95 on an adjusted basis.
  • Following the stock’s ex-split trading for the day on Tuesday, shares of Gensol Engineering reached an all-time high. According to a 2:1 bonus issue declared by the corporation, qualified shareholders will receive two bonus shares of the company for every share they held on the record date.
  • The record date for the purpose of the bonus issue was set by the corporation as Tuesday, October 17, 2023. It had already disclosed this information through an exchange filing.
  • The company announced in a separate exchange filing on Monday that it has received trading approval for 4,05,383 equity shares that were issued on a preferential basis to non-promoter category as part payment of the total consideration due for the acquisition of 1,08,108 equity shares
  • For the construction of solar power plants, Gensol Engineering provides engineering, procurement, and construction (EPC) services. Additionally, it offers solutions for the passenger, fleet, and freight customer categories.

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