5 days Ago
Stock Market Today: Gensol Engineering share price will remain in focus on Wednesday as market regulator SEBI (Securities and exchange board of India) Bars promoters from Securities markets. In a case involving fund diversion and governance violations, capital markets regulator SEBI on Tuesday announced prohibiting Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, from trading on the securities markets until further orders. Additionally, until additional directives are issued, the regulator has prohibited Anmol and Puneet Singh Jaggi from serving as directors or other important management officials at Gensol.
Gensol Engineering other developments Gensol Engineering also has remained in news as the company had recently announced a 1:10 stock split. The company had announced that resolution at the Extraordinary General meeting is proposed for the sub-division of equity shares from the face value of ₹ 10/- per share to ₹ 1/- per share. Among other resolutions to be proposed is the issue of securities on a preferential basis to members of the promoter group category of the company While the second suggestion for the issue of securities on a preferential basis was special resolution , the first one pertaining to the stock split was genral.
However, commenting on the approval status for the resolutions, Gensol Engineering in its release also said that the result is awaited from the Scrutinizer. Gensol Engineering share price movement The share price of Gensol Engineering has dropped precipitously in recent past as has continued to be the subject of numerous rating downgrades. In early February, Gensol Engineering's share price was trading near ₹ 740 levels , but it has since experienced a significant fall.
The share price of Gensol Engineering had closed at ₹ 130 levels on Tuesday . The share price of Gensol Engineering had declined more than 2% on the BSE on Tuesday. At ₹ 129, the price of Gensol Engineering shares was down 2.
76% on the National Stock Exchange. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
