Gensol Engineering Shares Hit New Lows As Stock Crashes 92% In 2025 So Far; Here's Why

Shares of Gensol Engineering Ltd person been connected a freefall, plunging different 5 per cent connected Thursday to touch a caller one-year debased of Rs 60.45. At this price, nan banal has nosedived 92.26 per cent successful nan almanac twelvemonth 2025 truthful far.

Bourses BSE and NSE person put nan securities of Gensol nether nan ESM (Enhanced Surveillance Measure) framework. Exchanges put mainboard companies pinch a marketplace capitalisation (m-cap) of little than Rs 1,000 crore nether nan ESM structure. The beleaguered firm's marketplace capitalisation (m-cap) coming stood astatine Rs 229.72 crore.

The latest rustle comes aft nan Securities Appellate Tribunal's (SAT's) determination to contradict interim alleviation to nan company, which is presently nether investigation for alleged money diversion. Exchanges person sought explanation from Gensol complete nan same. A reply is awaited astatine nan clip of penning this story.

Before this, marketplace regulator Sebi barred Gensol's promoters-brothers Anmol and Puneet Jaggi-from accessing banal markets and ordered a forensic probe into their listed renewable power firm. Sebi besides decided to put connected clasp nan banal divided (1:10) workout announced by nan institution past month.

It alleged Gensol's promoters diverted hundreds of crores raised for electrical conveyance (EV) procurement into individual indulgences specified arsenic luxury existent property and questionable transactions pinch related entities.

The ED precocious confiscated Zenith Multi Trading DMCC's liking successful Gensol Engineering, linked to Hari Shankar Tibrewal, a cardinal accused successful nan Mahadev Betting App money laundering case. Reports emerged that nan Gensol promoters would beryllium summoned by nan ED successful relationship pinch nan Mahadev Book app investigation, though nan institution denied specified "factually incorrect, speculative, and misleading" reports connected April 23. 

Gensol connected April 23 said that nan institution aliases directors, including Anmol and Puneet Singh Jaggi, had not received immoderate connection aliases announcement from ED concerning an quality regarding nan Mahadev book app lawsuit nether a caller probe done by ED connected April 16.

"We categorically authorities that nan news point is factually incorrect, speculative, and misleading. We reiterate that nan promoters of Gensol Engineering Limited person nary relation pinch nan Mahadev Book app lawsuit aliases nan alleged financial transactions cited therein," Gensol stated.

Published on: May 8, 2025 1:14 PM IST