Gensol Engineering stock hits lower circuit for 2nd consecutive session, extends loss to 62% in 1 month

Shares of Gensol Engineering remained under selling pressure, hitting the lower circuit for the second consecutive session on March 25 and extending their monthly loss to over 62 percent.

The stock declined 5 percent to touch an intraday low of Rs 215.15 per share on the National Stock Exchange (NSE), where it opened with a gap-down and remained locked in the lower circuit throughout the session. This marks the second straight day of the stock hitting the lower circuit.

According to BSE Analytics, Gensol Engineering has lost 62.2 percent of its value in the last one month.

The sharp decline follows multiple ratings downgrades amid concerns over delays in servicing term loan obligations. The company has also been under scrutiny due to allegations of falsified debt servicing documents and high debt levels. Gensol Engineering has denied any involvement in falsification and has initiated an internal probe into the matter.