Gensol Engineering Shares Soar After Order Win To Build Hydrogen Electrolyser Plant
The project has a manufacturing capacity of 63 MW per year and is in alignment with the Green Hydrogen Mission.
![<div class="paragraphs"><p>(Source: Gensol Engineering website) </p></div>](https://media.assettype.com/bloombergquint%2F2024-01%2F598fd56d-7139-45cb-8d18-289b33e85da3%2Fgolden_Hatcheries_banner.jpg?auto=format%2Ccompress&w=200)
Shares of Gensol Engineering Ltd. rose on Monday after it won the production-linked incentive bid for hydrogen electrolyser manufacturing.
Gensol Engineering, along with Matrix Gas and Renewables Ltd., won a grant of manufacturing capacity for an advanced electrolyser plant under the auspices of the Sustainable Hydrogen Innovation & Green Hydrogen Technologies program, the company said in an exchange filing.
The project has a manufacturing capacity of 63 MW per year and is in alignment with the Green Hydrogen Mission.
![Gensol Engineering Shares Soar After Order Win To Build Hydrogen Electrolyser Plant](https://media.assettype.com/bloombergquint%2F2024-02%2Fdc539b0e-3a93-43a4-b070-b98900bfe454%2FGENSOL.png?auto=format%2Ccompress)
Shares of the company rose as much as 7.83% to 1,199 apiece, the highest level since Feb. 9. It pared gains to trade 5.40% higher at Rs 1,172 apiece as of 11:18 a.m. This compares to a 0.32% decline in the NSE Nifty 50 Index.
It has risen 159.02% in the last 12 months. Total traded volume so far in the day stood at 1.7 times its 30-day average. The relative strength index was at 77 indicating it was overbought.