2922.30% Rise In 2 Yrs! This Small Cap Company's Subsidiary Bags Order For 500+ Cargo EV

Gensol Engineering Limited on Thursday informed the stock exchange its subsidiary Gensol EV Lease Pvt. Ltd., an EV-focused leasing solutions provider, bags order worth Rs 75 Cr for more than 500 EVs. Further, the company informed that these EVs are Tata Ace Cargo.

An initial batch of more than 20 EVs has already been leased, while the rest of the vehicles are to be deployed over the next six months across Maharashtra, Karnataka, West Bengal, Tamil Nadu, and Telangana.

Board of Directors of Gensol Engineering Limited, "We wish to inform you that Gensol EV Lease Pvt. Ltd., a subsidiary of Gensol Engineering Limited (BSE Code: 542851 and NSE Symbol : GENSOL), an EV-focused leasing solutions provider, today announced a significant milestone with an order for more than 500 + Tata Ace Cargo EVs."

Furthermore, "This substantial order, valued at INR 75 Cr is from an all-electric logistics company. An Initial batch of 20+ EVs have already been leased, with the remaining cars to be deployed over the next 6 months across 5 states in India - Maharashtra, Karnataka, West Bengal, Tamil Nadu and Telangana."

"In addition, we are working with customers in the PSU, last mile delivery and employee transportation business with a leasing requirement of 100+ electric vehicles," the Board stated.

Gensol Engineering's stock last traded at Rs 2,006.20 apiece, up 0.74% from its previous close of Rs 1,991.50 apiece on the BSE. The stock surged 5.99% in the last 1 week. It surged 20.58% in the last 1 month, and 80.49% in the last 6 months, respectively. The stock has given 42.63% positive return in the last 1 year. It has given a multibagger return of 2,922.30 apiece in 2 years and 3,285.99% in 3 years, respectively.

The stock hit a 52-week high price on Sept 06, 2023, at Rs 2,119.45 apiece and a 52-week low price on Mar 14, 2023, at Rs 797.05 apiece.

Gensol Engineering Ltd is a small-cap services company engaged in the business of Solar consulting & EPC. It has a market cap of Rs 2,451.36 Crore.