On the NSE, it dropped 5 per cent to Rs 90.16 — the decrease circuit in addition to 52-week low.
The inventory has been tumbling for 12 buying and selling days, together with Friday. Shares of the agency have misplaced over 44 per cent in 12 days.
From its 52-week excessive of Rs 1,125.75, the inventory has tumbled 91.91 per cent.
The Enforcement Directorate Thursday carried out searches towards beleaguered Gensol Engineering Ltd and detained its co-promoter Puneet Singh Jaggi from a Delhi lodge, official sources mentioned.
The raids have been carried out on the firm’s premises in Delhi, Gurugram and Ahmedabad beneath the provisions of the International Alternate Administration Act (FEMA). The promoter brothers of the corporate — Anmol Singh Jaggi and Puneet Singh Jaggi — are beneath the scanner of the federal probe company following a Sebi report towards them for alleged monetary misconduct, company misgovernance and diversion of funds. Sebi, via its interim order on Tuesday final week, barred brothers Anmol Singh Jaggi and Puneet Singh Jaggi from accessing the securities markets till additional discover.
Gensol Engineering is engaged in offering photo voltaic consulting companies, engineering, procurement and development (EPC) companies, and leasing of electrical automobiles, amongst others.
Sebi acquired a grievance in June 2024 associated to the manipulation of share value and diversion of funds from Gensol and thereafter, began analyzing the matter.
Moreover, Sebi directed Gensol Engineering to place its deliberate inventory break up into the ratio of 1:10 on maintain.
