Gensol Engineering Shares Dip to New Lows as Regulatory Spotlight Stays On

Shares of Gensol Engineering continued their downward spiral on Wednesday, plunging another 5% to hit the lower circuit limit for the day, marking the 15th consecutive session of losses.

On the Bombay Stock Exchange (BSE), the stock dropped 4.99% to Rs 78.10 — not only the lowest price permitted for the session but also a new 52-week low. On the National Stock Exchange (NSE), it mirrored this performance, falling 5% to ₹77.29, also a 52-week low.

In just 15 trading days, Gensol’s stock has shed more than 52% of its value. From its 52-week high of ₹1,125.75, the company's shares have now plunged over 93%.

Also Read: Gensol Shock: Jaggi Brothers Detained in FEMA Case, Hauled to ED Office | Republic World

The sustained sell-off follows serious allegations involving the company’s promoters, brothers Anmol Singh Jaggi and Puneet Singh Jaggi — who also co-founded the electric mobility firm BluSmart.

The Securities and Exchange Board of India (SEBI) has barred the duo from participating in capital markets and from holding board-level positions in listed companies. The action was taken amid allegations of misappropriating loan funds intended for electric vehicle purchases.

SEBI's intervention began after a complaint was filed in June 2024, accusing the company of stock price manipulation and financial mismanagement. Following preliminary findings, the regulator directed Gensol to halt its planned 1:10 stock split.

Gensol Engineering — which operates in solar consulting, EPC services, and electric vehicle leasing — now finds itself under intense regulatory scrutiny and mounting market pressure as it navigates this turbulent phase.