• Source:JND
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Gensol Engineering Share Price: Shares of Gensol Engineering fell 5 per cent on Tuesday to another lower circuit limit as investors exited the company's counter amid the ongoing crisis at the firm. Last week, Sebi, through an interim order, had barred brothers Anmol Singh Jagi and Puneet Singh Jagi from entering the securities market till further notice.

The move came amid allegations that loans from their publicly listed company, Gensol Engineering, were siphoned off for personal use, raising concerns over corporate governance and financial misconduct.

On Tuesday, the BSE fell 4.97 per cent to Rs 106.10 - the lowest trading permissible limit and a 52-week low. It fell 5 per cent to Rs 105.17 - the lower circuit and a 52-week low on the NSE.

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The stock is now down 90.57 per cent from its 52-week high of Rs 1,125.75. The company's shares touched the lower circuit limits on Wednesday last week and on Thursday and Monday as well.

Gensol Engineering is engaged in solar consulting services, engineering, procurement and construction (EPC) services and electric vehicle leasing. Sebi received complaints from Gensol in June 2024 regarding share price manipulation and money diversion, and has since started looking into the matter.

Sebi has also directed Gensol Engineering to put on hold its planned stock split in the ratio of 1:10. On Monday, the Ministry of Corporate Affairs said it will review the order issued by market regulator Sebi on the company and take necessary action in the case of Gensol Engineering.

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(With Inputs From PTI)

Disclaimer: This is just a piece of news about recent developments in the stocks. Jagran does not advise investing, please take experts opinion before investing.