Gensol Engineering share price hits 5% upper circuit despite IREDA’s insolvency move
Gensol Engineering share price in focus today: Gensol Engineering share price, which has been in a freefall since the end of February amid the ongoing crisis at the firm, managed to reverse some of its losses over the past few trading sessions. The stock hit the 5% upper circuit limit for the third straight session on Thursday, May 15, reaching βΉ62.44 apiece.
Even as the state-run Indian Renewable Energy Development Agency (IREDA) filed an insolvency application against Gensol Engineering, optimism in the stock price followed the company’s announcement that the Securities Appellate Tribunal (SAT) had granted it two weeks to respond to SEBI’s interim order.
On April 15, the market regulator Securities and Exchange Board of India (SEBI),…
