Shares of multibagger Genus Power Infrastructures (NSE: GENUSPOWER) are in news today after the firm said its wholly owned subsidiary won orders worth Rs 4,469.04 crore. The power stock ended on a flat note at at Rs 444.05 on BSE on Wednesday against the previous close of Rs 445.70. Market cap of Genus Power rose to Rs 13,488 crore.
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A total of 0.37 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.64 crore on BSE.
Genus Power stock has a one-year beta of 0.7, indicating very low volatility during the period.
Genus Power shares have delivered multibagger returns of 440% in two years. In a year, the stock has clocked 68.30% returns. The stock rallied 665% in three years.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 71.5, signaling it’s trading in the overbought zone. Genus Power stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Genus Power shares fell to a 52-week low of Rs 204.60 on March 14, 2024 and rose to a high of Rs 460.25 on August 22, 2024.
The orders are for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 5.59 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.
Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, ““We are pleased to announce that Genus Power Infrastructures Limited continues its remarkable growth trajectory with the successful securing of significant orders, further solidifying our leadership position in the smart metering sector. Over the past few weeks, we have won three major orders, cumulatively valued at Rs. 11,003.08 crore (net of taxes). This includes orders worth Rs. 2,925.52 crore (net of taxes) & Rs. 3,608.52 crore (net of taxes) won in the third week of August and an additional Rs. 4,469.04 crore (net of taxes) secured now. These achievements bring our total order book to about Rs. 32,500 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company’s robust future growth.”
Genus Power is primarily engaged in manufacturing/providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis. The company operates through two segments: Metering business and Strategic investment activity. etc.
