3400% return in 3 years: This renewable energy stock gains 2% as the company’s order book crosses Rs 5,400 crore

3400% return in 3 years: Shares of Gensol Engineering gained more than 2 percent on Wednesday as the BSE Sensex rose 338.1 points to 79,814.73 in early trade. The NSE Nifty jumped 101.5 points to 24,314.80.

The counter opened in the green at Rs 854 against the previous close of Rs 839.50 on the BSE. The counter saw an increase of over Rs 859 – an increase of 2.15 percent from the previous period.

The counter increase also came as the company informed traders that its solar EPC order book now stands at over Rs 5,000 crore. This figure includes solar projects from Public Sector Undertakings (PSUs) and private customers. Projects must be carried out over a period of 12 to 18 months.

The counter has given a return of over 3400 percent in three years and 78 percent in two years. In one year, it has gained more than 6 percent.

Gensol is a leading player in the renewable energy sector engaged in solar engineering, procurement, and construction (EPC) services.

Meanwhile, the BSE Sensex rose 338.1 points to 79,814.73 in early trade. The NSE Nifty jumped 101.5 points to 24,314.80.

From the 30-share Sensex pack, HCL Technologies, Sun Pharma, Infosys, Bajaj Finance, Bajaj Finserv, Maruti, NTPC, Tech Mahindra and Tata Consultancy Services were the biggest gainers.

Titan, Tata Steel, Hindustan Unilever and JSW Steel were among those who resigned.

In the Asian markets, Tokyo and Shanghai traded the most while Seoul and Hong Kong quoted the least. Wall Street ended Tuesday higher.

The global oil benchmark for Brent crude fell 0.94 percent to USD 74.82 a barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,569.41 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 3,030.96 crore, according to exchange data.