India's Gensol Engineering hits record low after promoters announce stake sale

Gensol Engineering

10/03/2025 08:32

** Shares of Gensol Engineering Ltd GENO.NS fall 5%, the exchange-allowed maximum, to a record low of 305.80 rupees

** The engineering co says promoters have undertaken sale of 2.37% stake of co for liquidity that will be reinvested into the business

** Credit rating agencies ICRA and CARE had downgraded co earlier last week, raising concerns over its liquidity position and corporate governance practices

** Co's board will also meet on March 13 to consider raising of funds and share split

** Stock on track to fall for 10th straight day

** More than 1.4 mln shares traded, 3.1x their 30-day moving avg

** GENO stock down 57.6% YTD so far, including session's losses

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))