Gensol Engineering Stock Tumbles Amid Promoter Stake Sale

Gensol Engineering's shares fell over 4% as promoters sold a 2.37% stake. The stock has declined by 46% over the past 10 sessions. The sale aims to unlock liquidity for reinvestment, boosting the company’s balance sheet. Promoters will still hold nearly 60% of the company.

Shares of Gensol Engineering dropped over 4% on Monday following the sale of a 2.37% stake by the company's promoters. This marks the 10th consecutive trading day of losses for the EPC firm.

The stock price fell to Rs 308 apiece on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), resulting in a cumulative decline of up to 46% over the last 10 trading sessions.

The promoter's stake sale is part of a strategic move to unlock liquidity that will be reinvested into Gensol Engineering through equity infusion. This approach aims to strengthen the balance sheet and provide growth capital, ensuring long-term stability and expansion.

(With inputs from agencies.)