Multibagger Genus Power Infrastructures’ stock is making headlines today as the company said that orders totalling Rs 3,608.52 crore were placed with its fully-owned subsidiary. On Tuesday, the power stock closed at Rs 417.50 on the BSE, 2.27% higher than its previous closing of Rs 408.25. Genus Power’s market value increased to Rs 12,681.75 crore.
3.59 lakh of the company’s shares were traded, generating a turnover of Rs 15.02 crore on the BSE.
The one-year beta of 0.6 for Genus Power stock indicates extremely little volatility throughout that time.
In just two years, Genus Power shares have produced multi-bagger returns of 437.67%. The stock has returned 92.31% in a year. After three years, the stock increased by 574%.
Technically, Genus Power is trading neither in the overbought nor oversold zone, as indicated by its relative strength indicator (RSI) of 69.5. Genus Power stock is currently trading higher than the five-, ten-, twenty-, thirty-, fifty-, hundred-, and 200-day moving averages.
March 14, 2024, was the 52-week low for Genus Power shares, trading at Rs 204.60.
AMISPs (Advanced Metering Infrastructure Service Providers) are to be appointed to design an advanced metering Infrastructure (AMI) system and supply, install, and commission 4.26 million Smart Prepaid Meters with FMS. The orders also include system meters, such as DT Meters, with corresponding energy accounting on a DBFOOT basis.
According to Genus Power Infrastructures Ltd.’s joint managing director, Jitendra Kumar Agarwal, “Our Company has successfully secured three new orders worth Rs. 3,608.52 Crore (net of taxes).” This continuous success demonstrates the faith our customers have in our knowledge and the outstanding calibre of our services. With these latest purchases, our order book stands at about Rs. 28,000 crore (net of taxes) for all SPVs and the GIC Platform combined. These concessions, which are valid for eight to ten years, give the company’s strong future growth a clear indication. We continue to be committed to maintaining the greatest levels of innovation, quality, and customer happiness even as we celebrate this accomplishment.
Genus Power’s primary business activities include designing, constructing, and turnkey contracts, as well as manufacturing and offering metering and metering solutions. The business is divided into two segments: strategic investment activity and the metering business.
