Gensol continues with rally

The rally in Gensol, which began on Tuesday continues as many fund houses are looking at it anew as a PF stock. From its close of Rs.934.05, it opened higher at Rs.939 and went on to hit an intraday high at Rs.1012.50, rise of 8.5%. Its 52-week high stands at Rs.1377.10.

The market is happy as it has set up a subsidiary in the USA, Scorpius Trackers Inc, aiming to supply 2000 MW solar trackers by 2028.

This strategic move marks Scorpius’ commitment to leverage the vast potential of the U.S. solar tracker market, which is the largest in the world and deploys trackers aggregating over 25,000 MW annually. Importantly, the U.S. tracker market is growing at a robust CAGR of more than 20%.

Scorpius Trackers Inc. aims to capitalize on its (Scorpius India) decade long experience and 1,000 MW+ of contracted orders across key markets including India, Africa, Japan, and the Middle East.

A week ago, the company had received an order for 16 MWp turnkey EPC rooftop solar project worth Rs. 40 crore under commercial and industrial (C&I) segment from a leading textile company. This was a repeat order and the project is to be installed in Madhya Pradesh and Gensol will commission the project in six months.