Crisis shares Hit Gensol Engineering continued to slide on Wednesday, decreasing 5 percent, reaching another lower circuit limit.
The action fell 4.99 percent to ₹ 78.10-its limit allowed by lower negotiation for the day, as well as a low in the 52-week EEB.
The company’s shares fell 5 percent to reach the lower circuit, as well as a low level of 52 weeks of ₹ 77.29 in the NSE.
The action witnessed a decrease for the 15th consecutive on Wednesday. Duration this time, the action has lost more than 52 percent.
The firm’s shares have fallen 93 percent from the maximum of 52 weeks of ₹ 1,125.75.
The Brothers Anmol Singh Jaggi and Puneet Singh Jaggi, promoters of Gensol and Blusmart, face regulatory actions of the Bag Board and Exchange of India (Sebi) about the accusations of the loan of money to Evche.
Sebi has imposed a prohibition of the capital market to the duo, forbidden to have positions in the companies that are quoted in the stock market.
Gensol Engineering is dedicated to providing solar consulting services, engineering, acquisitions and construction (EPC) and leasing electric vehicles, among others.
Sebi received a complaint in June 2024 related to the manipulation of the price of shares and the deviation of gensol funds and, therefore, began to examine the matter.
In addition, Sebi ordered Gensol Engineering to put his division of scheduled shares in the relationship or 1:10 waiting.
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Posted on April 30, 2025
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