** Shares of Gensol Engineering Ltd GENO.NS fall 5%, the exchange-allowed maximum, to a record low of 305.80 rupees
** The engineering co says promoters have undertaken sale of 2.37% stake of co for liquidity that will be reinvested into the business
** Credit rating agencies ICRA and CARE had downgraded co earlier last week, raising concerns over its liquidity position and corporate governance practices
** Co's board will also meet on March 13 to consider raising of funds and share split
** Stock on track to fall for 10th straight day
** More than 1.4 mln shares traded, 3.1x their 30-day moving avg
** GENO stock down 57.6% YTD so far, including session's losses
(Reporting by Meenakshi Maidas in Bengaluru)
((meenakshi.maidas@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.