Shares of Gensol Engineering rose over 5% in early trading on Monday after the firm said it had won a large turnkey EPC order from a leading public sector company in Maharashtra. The project involves the development of a 150 MWac ground-mounted solar power plant. The value of the contract is Rs 780 crore. The contract is planned to be executed for 15 months.

Shares of Gensol Engineering rose 5.45% to Rs 860 in the afternoon session today, up 5.45% from the previous close of Rs 815.50 on BSE. The market capitalization of Gensol Engineering rose to 3169.96 crore rupees on BSE. Gensol Engineering shares increased by 6.33% in one year and gained value since the beginning of this year, but lost 1.13%. The stock’s one-year beta is 0.6, indicating low volatility over the period.

A total of 0.45 lakh shares changed hands on BSE, accounting for a turnover of Rs 3.83 billion.

From a technical perspective, the stock’s relative strength index (RSI) stands at 49.5, which signals that the stock is neither overbought nor oversold on the charts. Gensol Engineering shares traded above the 5-day, 10-day, 20-day, 30-day moving averages and below the 50-day, 100-day, 150-day and 200-day moving averages.

The company’s role will cover the full scope of the project’s lifecycle, from the complex and critical task of land acquisition, highlighting the scale and complexity of the project, to the precise and detailed stages of design, engineering, procurement and logistics.

The scope also includes fabrication, supply, assembly, inspection, installation, testing and commissioning of a 150 MWac grid-connected ground-mounted solar PV power plant as well as development of associated energy evacuation infrastructure to the STU substation. Additionally, the contract includes three years of operations and maintenance (O&M) services for the project, including maintenance of the facility’s switchyard and extensive transmission infrastructure.

Shilpa Urhekar, Chief Executive Officer, Gensol Engineering Solar EPC (India), said: “We are deeply grateful for the trust placed in us by one of India’s leading public sector utilities. This important project is a testament to Gensol’s growing expertise as a provider. Comprehensive, “The development of end-to-end solar energy solutions will play a vital role in advancing India’s clean energy transition, in line with our commitment to contribute to the right energy mix, together with the state of Maharashtra to support and advance India’s renewable energy goals.”

Gensol Engineering is part of the Gensol group of companies providing engineering, procurement and construction (EPC) services for the development of solar power plants.