Mukul Agrawal portfolio stock tanks 10% despite order win worth ₹450 crore. Time to buy?
Mukul Agrawal portfolio: Gensol Engineering shares are one of those stocks listed on Dalal Street that has been in the retracement zone for a long. After the strong sell-off in the Indian stock market today, Gensol Engineering share price today touched a 10 percent lower circuit when it made an intraday low of ₹911.45 apiece on NSE.
However, the Mukul Agrawal portfolio stock witnessed value buying at the lower level and started showing signs of recovery from the intraday low. According to stock market experts, from a fundamental perspective, the renewable energy stock has strong fundamentals as the company reported strong Q3 results for the current financial year.
They said that the Electronic Vehicles charging solution company has witnessed continuous order flow from various PSUs including PLI scheme benefits. They said that the company has won Gujarat Urja Vikas Nigam Limited (GUVNL).
They advised medium to long-term investors to maintain a 'buy-on-dips' strategy in ₹850 to ₹880 range as the stock may bounce back and go up to ₹970 and ₹1050 levels in the short and medium term. On why Gensol Engineering share price is falling today, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Gensol Engineering Ltd is a flagship company in EV charging solutions and it has won many big projects including PLI projects.
The company has reported strong Q3 numbers and today it has declared winning a Gujarat Urja Vikas Nigam Limited (GUVNL) project worth ₹450 crore. So, from the fundamental perspective, Gensol Engineering is a good portfolio stock and one can look at adding this stock to one's portfolio for medium to long-term perspective." On what the technical chart pattern suggests about the EV stock, Ganesh
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