India's Gensol Engineering jumps on winning production-linked incentive

Gensol Engineering

12/02/2024 06:00

** Shares of Gensol Engineering  GENO.NS  rise 5.22% to
1,170 rupees apiece
    ** Renewable energy and electric mobility company, in
consortium with Matrix Gas and Renewables, wins
production-linked incentive (PLI) bid for hydrogen electrolyser
manufacturing
    ** Project has a manufacturing capacity for 63 megawatt per
annum
    ** The award of manufacturing capacity will pave way for new
growth opportunities and partnerships in renewable energy
domain, says GENO
    ** Including today's gains, GENO shares up 39% in 2024 so
far, stock up about 159% since listing on July 3, 2023 - LSEG
data
    ** The relative strength index of the stock has been above
70 since Feb. 5, suggesting the stock may be overbought - LSEG
data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))