Gensol Engineering Share Price experienced a notable decline on March 10, 2025, extending a downtrend that has persisted for the past 10 trading sessions. The stock dropped 4.32% to an intraday low of Rs 308 per share, marking a continued slide from recent trading sessions.
Main News
On Monday, Gensol Engineering Ltd's shares opened with a gap-down, falling 2.14% at the start of the session. The drop in share price follows the recent sale of a 2.3% stake by the company's promoters. Approximately 9 lakh shares, which account for 2.37% of the company's total equity, were sold. Despite this offloading, the promoters retain a significant 59.70% stake in the company, as disclosed in an exchange filing.
This marked the 10th consecutive day of Decline for Gensol shares, which have now lost nearly 60% of their value during this period. The stock's value is now just 1.46% away from its 52-week low of Rs 307.25 per share.
Company Details
Gensol Engineering Ltd. has been facing a turbulent period, with its stock price continuing to slide. The recent drop follows a series of adverse developments, including a downgrade from CARE Ratings. Additionally, delays in fulfilling its term loan obligations and an ongoing investigation into alleged data falsification have contributed to the stock's downward movement. The company has denied involvement in the suspected data falsification and is investigating the matter.
Summary
The Decline in Gensol Engineering's share price over the past 10 days has been significant, driven by a combination of factors, including the promoters' stake sale and financial challenges. The stock continues to struggle amidst downgrades and internal investigations as it approaches its 52-week low. The situation is evolving, with continuous developments that may further impact the company's market performance.
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