Stock market today: Gensol Engineering share price jumps 8% after winning PLI bid
Stock market today: Despite heavy selling in mid-cap and small-cap stocks, Gensol Engineering shares witnessed strong buying interest on Monday. Gensol Engineering share price today opened upside at ₹1,170 apiece on NSE and went on to touch an intraday high of ₹1,199 per share on NSE, logging around 8 percent rise against its Friday close of ₹near ₹1,112 apiece.
Buying in Gensol Engineering shares took place after the engineering company declared to win PLI's bid for Hydrogen Electrolyser Manufacturing. The company informed Indian stock market exchanges about winning the PLI bid under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program.
Also Read: LIC shares surge over 6%, brokerages raise target price on robust Q3 results Gensol Engineering Ltd informed Indian bourses about the development saying, "Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we wish to inform that the company has won a bid of manufacturing capacity for an advanced Electrolyser Plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies (SIGHT) program. The awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric tons of green hydrogen annually by 2030." Also Read: Why small-cap index today crashed over 1000 points — explained with 5 reasons Gensol Engineering went on to add that the awarded project, with a manufacturing capacity of 63 MW per annum, is strategically positioned to contribute significantly to India’s ambitious goal of producing 5 million metric
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