2:1 Bonus Issue: Multibagger Engineering Stock Hits Upper Circuit For 2nd Consecutive Day

Small cap engineering stock, Gensol Engineering on Tuesday hit upper circuit for second day after the board of directors recommended and approved the issuance of bonus shares in the ratio of 2:1 implying shareholders will receive 2 bonus shares for every 1 equity share of the company they held as on the record date. Gensol Engineering stock offered return of 129% in last 6-months and rallied 3272% in last 3-years. Last trading price of Gensol Engineering share is Rs 2018.55 per share. Check details below:

Gensol Engineering Announces 2:1 Bonus Issue: According to the BSE filing of Gensol Engineering dated September 5, 2023, "The Board of Directors of the Company considered, approved and recommended bonus issue of 2 (Two) equity share for every 1 (One) equity shares held by the Shareholders of the Company as on the record date (to be determined by the Board of Directors). The bonus issue of equity shares will be subject to approval of the Members through General Meeting and any other applicable statutory and regulatory approvals, as may be required."

Gensol Engineering Stock Performance: Last trading price of Gensol Engineering share is Rs 2018.55 per share on BSE. Its 52-week high price is Rs 2034.35 per share and 52-week low price is Rs 797.05 per share, respectively. The company has a market capitalisation of Rs 2466.45 crore. Gensol Engineering shares rose 99% YTD, gained 13% in last 1-year, and rallied 3272% in last 3-years. The stock hit back-to-back upper circuit and traded new 52-week high on September 4 and September 5, 2023.

Gensol Engineering Financials: The company on August 14, 2023 announced its net profit at Rs 10.2 crore for the quarter ended June 30, 2023. It declared Rs 10 crore net profit in the preceding fiscal, said company in its BSE filing. Gensol Engineering announced a surge in its revenues to Rs 151.7 crore in the first quarter of the current fiscal from Rs 102.9 crore in the last fiscal. Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) announced at Rs 43.7 crore, up from Rs 15.7 crore.

Disclaimer

The stock just highlights the bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.