News for Gensol Engineering Limited (GENSOL.BO)

Stock market update: Trent, Sun Pharma, ICICI Bank, Bharti Airtel, and BPCL lead gainers; IndusInd, Infosys, Bajaj Finserv, M&M, and Wipro decline.

Gensol Engineering's shares attracted attention after credit rating agencies CARE and ICRA downgraded the companys multiple credit ratings. Following this, Gensol Engineering announced that its CFO had resigned to pursue external opportunities.

Gensol Engineering Ltd shares are in news today after the company said its board would consider a stock split along with various fundraising options, including equity issuance and foreign currency convertible bonds, in its upcoming meeting on March 13.

Gensol Engineering's board will consider a stock split of shares from a face value of Rs 10 during its March 13 board meeting, alongside discussing fundraising methods. Promoters sold 2.37% equity to reinvest in the business while Gensol's shares fell 70% due to credit rating downgrades.

The company has announced plans to consider a stock split and various fundraising options, including equity issuance and foreign currency convertible bonds, in its upcoming board meeting on March 13.

Gensol Engineerings promoters sold 2.37% equity to unlock liquidity for reinvestment following a 70% stock plunge over eight trading sessions. The company is considering a stock split and various fundraising options, and its CFO recently resigned. Multiple credit rating downgrades exacerbated the stock decline.

Indian benchmark indices closed flat on Friday, after rising 2% over the last two sessions, with gains in heavyweight Reliance Industries offsetting declines in IT stocks, as market sentiments remained cautious with concerns over U.S. tariffs amid fluctuating trade policy that has rattled global financial markets.

Gensol Engineering share price today: In the current session, the renewable energy stock rose 16% to Rs 352.90 against a low of Rs 303 on BSE.

Gensol Engineering shares: Gensol Engineering's shares rose by 5% after CFO Ankit Jain resigned to pursue other opportunities. His resignation follows a period of declining share prices and credit rating downgrades by ICRA and CARE. Jabirmahendi Mohammedraza Aga has been appointed as the new CFO.

The market on Thursday opened in the green, extending its upward move for the second day. With Nifty rising above 22,400 and Sensex gaining over 200 points to trade at 73,974.91, BSE Ltd., Gensol Engineering Ltd. and Route Mobile Ltd. were among few of the buzzing stocks on Thursday.

Gensol Engineering stock has fallen 40% in the last three sessions. The company has issued a clarification after the credit rating downgrade.

Gensol Engineering Ltd. said on Wednesday that it would use proceeds from the asset divestments to reduce debt to address concerns pointed out in recent credit rating downgrades. The steps taken by Gensol to reduce debt include initiating sale of 2,997 electric vehicles as well as sale of a wholly owned subsidiary. "As a result of these two divestments, our debt will significantly reduce by Rs 665 crore, resulting in a debt-equity ratio of 0.8," it said in its investors’ presentation.

Its debt servicing track record were falsified, raising concerns on corporate governance practices: ICRA

Adani Ports, Power Grid, Mahindra & Mahindra, NTPC lead Nifty 50 gainers; Bajaj Finance, HDFC Bank lag behind.

Gensol Engineering shares plunged 10% to a 52-week low of Rs 372.60 on the BSE, extending a 28% fall over two sessions. The drop followed CARE Ratings' downgrade due to loan servicing delays. The stock has declined 63% from its peak, with technical indicators signaling continued weakness amid liquidity concerns and bearish momentum.

Gensol Engineering shares hit the lower circuit, plunging 20% to Rs 413.95 after CARE Ratings downgraded its bank facilities due to loan servicing delays. The stock is down 63% from its peak, trading below key moving averages. CARE flagged liquidity concerns, citing poor debt servicing. Technical indicators signal continued weakness.

Gensol Engineering sells US subsidiary Scorpius Trackers Inc. for $42 million, plans to expand solar EPC business in India.

Gensol Engineering MD sells shares to reduce pledged shares, aiming for financial stability and pledge-free status.

Honasa Consumer, Salasar Techno Engineering, Vakrangee, Subex, Hardwyn India and Gensol Engineering are among 276 of 938 index constituents, which have fallen 75-80% from their 52-week highs levels.