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

3400% return in 3 years: Shares of Gensol Engineering gained over 2 per cent on Wednesday as the BSE Sensex climbed 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 green at Rs 854 against the previous close of Rs 839.50 on the BSE. The counter gained furhter to touch the high of Rs 859 - a raise of 2.15 per cent from the previous close. 

The surge in the counter also came as the company has informed exchanges that its solar EPC order book is now worth more than Rs 5,000 crore. This figure includes solar projects from both Public Sector Undertakings (PSUs) and private clients. The projects need to be executed within a timeline of 12 to 18 months.

The counter has given over 3400 per cent return in three years and 78 per cent in two years. In one year, it has gained over 6 per cent. 

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

Meanwhile, the BSE Sensex climbed 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 the laggards.

In Asian markets, Tokyo and Shanghai traded higher while Seoul and Hong Kong quoted lower. Wall Street ended sharply higher on Tuesday.

Global oil benchmark Brent crude declined 0.94 per cent to USD 74.82 a barrel.

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