Gensol Shares Locked In Upper Circuit After Setting Up Solar Project In Gujarat

Shares of Gensol Engineering Ltd. were locked in a 5% upper circuit on Monday after it announced the setting up of a 160 MW ground-mounted solar project in Gujarat.

The company has completed the ground-mounted solar project worth Rs 128 crore for Continuum Green Energy in Bhavnagar, Gujarat, according to an exchange filing.

Shares of the company hit a 5% upper circuit of Rs 799.30 apiece, the highest level since March 16. It was locked in the upper circuit as of 11:45 a.m., compared with a 0.12% decline in the NSE Nifty 50 Index.

The stock has risen 76.65% in past 12 months. Total traded volume so far in the day stood at 0.4 times its 30-day average. The relative strength index was at 30.76.