ensol Engineering Stocks, Gensol Share Price Today Live News & Updates: Gensol Engineering on Wednesday denied falsifying debt-related data, after credit rating agency ICRA downgraded the company and raised concerns over its liquidity position and corporate governance practices, a Reuters report read.
Credit rating agencies ICRA and Care Edge Ratings downgraded the construction and engineering firm this week and noted ongoing delays in the company’s debt servicing.
The company denied any involvement in claims made by the rating agencies and added it would be setting up a committee to review the matter. “These are challenging times and we are taking decisive steps towards strengthening our financial position and ensuring long-term financial stability,” Gensol added.
The firm’s stock fell 10% on Wednesday after plunging 20% in the previous session.