Gensol Engineering Shares Nosedive After Early Gains Amid Uncertainties

Gensol Engineering Shares Nosedive After Early Gains Amid Uncertainties

The company shares dipped in red, hitting in the lower circuit yesterday. Gensol Engineering shares crumbled, dropping by 10 per cent.S

Juviraj AnchilUpdated: Friday, March 07, 2025, 11:47 AM IST
article-image

Gensol Engineering, the engineering arm of the Gensol Group, has kick off yet another tumultuous day amid uncertainties, surrounding the company.

The company started the day on a positive note, gaining over 2 per cent in the early hours of the day's trade, soon dipped in value, as the day's trade progressed further.

Gensol's Shares Under Pressure

This comes to pass after the Ahmedabad-based company lost significant amount of its value in the previous trading session, on Thursday, March 6.

The company shares have been under immense pressure after rating agencies CARE and ICRA downgraded the company stocks.

The company shares dipped in red, hitting in the lower circuit yesterday. Gensol Engineering shares crumbled, dropping by 10 per cent.

A Day Of Ups And Downs

Today, the story looked a little different, and started on a positive note, however, as mentioned before, the company shares soon collapsed, yet again, continuing in the red terrain.

After opening at USD 307.25 per share, the company shares hit the high of USD 352.95 per share.

At the time of writing, the company shares dipped by 5.76 per cent or Rs 19.30. This took the overall value of Gensol Engineering shares to Rs 315.50 per share.

Gensol Brings Back Old CFO

Amid the insurmountable decline, the company recently appointed or more precisely re-appointed its old CFO Jabirmahendi Aga back to the same role.

The company announced the re-appointment of Jabirmahendi Aga as its new Chief Financial Officer (CFO), effective immediately. He succeeds Ankit Jain, who has decided to pursue other opportunities.

In the exchange filing, the company said, "Jabir brings over 14 years of experience in finance and a deep understanding of Gensol's financial operations, having previously served as the CFO for Gensol Engineering Limited. In this role, Jabir will report directly to Anmol Singh Jaggi, Chairman & Managing Director, Gensol Engineering Limited."

Anmol Singh Jaggi, Chairman & Managing Director of Gensol Engineering Limited said, "We are delighted to welcome Jabir back to the team and are confident that his expertise and experience will be invaluable in driving the company's future growth and success,"

RECENT STORIES

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Tata Group-Owned Indian Hotels Net Profit Jumps 26.56% To ₹329 Crore In Q1 FY26, Revenue Rises To...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Hexaware Acquires 100% Stake In SMC Squared For ₹1,029 Crore To Boost Global Capability Centre...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Waaree Renewable's Q1 Net Profit Rises 207% YoY To ₹86 Crore Despite Sequential Dip; Revenue Jumps...

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Gold Slips ₹200 To ₹98,670/10g, Silver Tumbles ₹500 To ₹1,10,500/Kg

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans

Axis Bank Q1 FY26 Net Profit Falls 4% To ₹5,806 Crore Amid Rise In Bad Loans