Genus Power Infrastructures’ stock rose to an all-time high as the maker of smart meters announced that orders totaling Rs 3,608.52 crore had been placed with its fully owned subsidiary. The multibagger stock was trading on the BSE on Wednesday at its record high of Rs 438.35, trapped in the upper 5% range from the previous close of Rs 417.50. It began the current session 5% higher. Genus Power’s market value increased to Rs 13,315 crore.
Genus Power Infrastructures’ Stock
Genus Power’s primary business activities include designing, construction, and turnkey contracts, as well as manufacturing and offering metering and metering solutions. 1.54 lakh of the company’s shares were exchanged, translating into a BSE turnover of Rs 6.74 crore. The one-year beta of the Genus Power stock is 0.6, which indicates extremely little volatility throughout that time. With two years of growth, Genus Power shares have produced multibagger returns of 464.32%. Over the course of a year, the stock has returned 105.32%. In three years, the stock increased 607.59%. Technically speaking, Genus Power is trading in the middle of the range between overbought and oversold conditions, as shown by its relative strength index (RSI) of 69.5.
The 5, 10, 20, 30, 50, 100, and 200 day moving averages are all being outperformed by the price of Genus Power stock. On March 14, 2024, shares of Genus Power reached a 52-week low of Rs 204.60. The orders are for the selection of Advanced Metering Infrastructure Service Providers (AMISPs), which include designing an Advance Metering Infrastructure (AMI) system and providing, installing, and commissioning 4.26 million Smart Prepaid Meters with FMS; additionally, system meters, such as DT Meters, with associated energy accounting on a DBFOOT basis are to be supplied.
Success Of Genus Power Infrastructures
According to Genus Power Infrastructures Ltd.’s joint managing director, Jitendra Kumar Agarwal, the company has successfully obtained three new orders totaling Rs. 3,608.52 crore (net of taxes). This continued success demonstrates the clients’ faith in their knowledge and the outstanding caliber of their services. With these latest purchases, our order book stands at about Rs. 28,000 crore 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. They are still committed to maintaining the greatest levels of innovation, quality, and client happiness.
