Gensol Engineering Ltd gets loan of Rs. 267.79 crores for EV Business

Gensol Engineering Ltd has announced that one of India's leading Financial Institution has sanctioned a loan of INR 267.79 Crores to the Company for expanding its new business vertical of Electric Vehicles ('EV business').

Gensol has been strongly aligned with India's unflagging commitment to walk down the path of carbon neutrality and has been expanding its fleet of EV cars, which, as on February 2022, the company is having consists of 284 Electronic Vehicles (EV Cars) such environment-friendly cars that are plying in the Delhi NCR region. With these proceeds, the company plans to augment its current fleet with another 3000 EV cars by the end of year 2022. Importantly, these EV cars not only contribute to reducing air pollution, but also help avoid emissions of climate change-causing Greenhouse Gases (GHG) like CO2.

Shares of Gensol Engineering Ltd was last trading in BSE at Rs. 247.00 as compared to the previous close of Rs. 254.25. The total number of shares traded during the day was 72352 in over 28 trades.

The stock hit an intraday high of Rs. 260.00 and intraday low of 241.55. The net turnover during the day was Rs. 17816999.00.

Source : Equity Bulls

Keywords

GensolEngineering INE06H201014 Loan ElectricVehicles EVBusiness