India's Gensol Engineering hits upper circuit on $160 mln project win

Gensol Engineering

13/06/2024 05:11

** Shares of Gensol Engineering  GENO.NS  rise 5% to hit
upper circuit at 1,068.05 rupees; highest level since March 5
    ** Renewable energy and electric mobility co said it won a
bid to construct a 250 MW/500 MWh battery energy storage project
from a government body in Gujarat worth 13.40 bln rupees ($160.4
mln)
    ** Project's greenshoe option to expand to 500 MW/1000 MWh
could potentially generate total revenue of around 26.80 bln
rupees over 12 years - GENO
    ** Stock on track for a second straight session of gains, if
current trends hold 
    ** Including day's gains, stock is up 26.3% YTD 


($1 = 83.5250 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))