Gensol Engineering Stock Climb 10% Today after 80% Crash
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Gensol Engineering Stock Today morning trading at 5% lower circuits and after 2.30 PM Gensol Engineering Stock Climb 10% and now trading at 5% Upper Circuit. In 52 Weeks Stock Crash almost 80%. The Stock Was Trading at 1124 rs in 2024 and now trading at 248 Rs.
Recently, Gensol Engineering Limited announced that its Board of Directors, in its meeting has approved fund-raising initiatives amounting to Rs. 600 crore aimed at significantly enhancing its financial standing. Rs. 400 crore to be raised through the issuance of Foreign Currency Convertible Bonds and Rs. 200 crore to be raised through the issuance of warrants to promoters.
Gensol Engineering Stock Crash after the credit rating downgrades by CARE and ICRA. CARE Rating downgraded the company’s long-term and short-term bank facilities because of delays in servicing its term loan obligations.
Gensol Engineering Limited (GEL) acknowledges the recent credit rating downgrades by CARE and ICRA. The rating downgrade happened due to short-term liquidity mismatch which is improving by way of customer payments. That said, we understand the concerns these downgrades have raised and are committed to addressing them responsibly to all our stakeholders.
