Multibagger power stock nearly tripled in six months; still down 16% from record high
Multibagger stock: Genus Power stock opened higher at Rs 248.70 against the previous close of Rs 246.15 on BSE.
- Nov 24, 2023,
- Updated Nov 24, 2023 10:29 AM IST
Shares of multibagger Genus Power Infrastructures Ltd have nearly tripled in the last six months. The power stock traded at Rs 243.70 on BSE today against the close of Rs 85.89 on May 24 this year delivering 2.83 times or 186% returns to investors during the period. Genus Power fell to a 52-week low of Rs 78.10 on December 26, 2022. It touched a record high of Rs 290 on September 5 this year. The stock is down 16% from its record high till date.
In the current session, Genus Power stock opened higher at Rs 248.70 against the previous close of Rs 246.15 on BSE.
Market cap of Genus Power stood at Rs 6296.67 crore.
A total of 0.31 lakh shares of the firm changed hands, amounting to a turnover of Rs 75.87 lakh on BSE.
Genus Power stock has a one-year beta of 0.2, indicating very low volatility during the period.
Genus Power shares have delivered multibagger returns of 789.31% in three years. In a year, the stock has clocked 161% returns.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 51.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 100 day and 200 day moving averages.
Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher said, “The stock has slipped from the resistance zone of 285 levels and currently is trading with a weak bias moving below the significant 50EMA level of 245 zone and also the RSI which is sliding gradually is near the weak zone. The near-term support would be at 225 levels which is where the important 100 period MA is lying. For the bias to improve, it needs to breach above the 255 zone to establish some conviction and then anticipate for further upward move.”
Abhijeet from Tips2trades said, "Genus Power is bearish on the Daily charts with immediate resistance at Rs 254. A daily close above this resistance could lead to target of Rs 282 in the near term. Next support will be at Rs 222.5."
Genus Power logged a revenue of Rs 308 crore in the September 2023 quarter against a revenue of Rs 223 crore in the corresponding quarter a year ago. Profit rose to Rs 49.2 crore in Q2 against Rs 6.5 crore in the corresponding quarter of the previous fiscal.
Operating profit climbed to Rs 26.3 crore in Q2 against Rs 16.8 crore in the corresponding quarter of the previous fiscal.
Net profit climbed to Rs 35 crore in FY23 against Rs 21.8 crore profit in FY22. Revenue from operations surged to Rs 826.8 crore in the last fiscal against Rs 711.9 crore for the fiscal ended March 2022.
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.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Stock recommendations for November 24, 2023: CDSL, Bajaj Auto and Star Health
Also read: Suzlon Energy shares climb 5% for 2nd day; 6-month return now at 305%
Shares of multibagger Genus Power Infrastructures Ltd have nearly tripled in the last six months. The power stock traded at Rs 243.70 on BSE today against the close of Rs 85.89 on May 24 this year delivering 2.83 times or 186% returns to investors during the period. Genus Power fell to a 52-week low of Rs 78.10 on December 26, 2022. It touched a record high of Rs 290 on September 5 this year. The stock is down 16% from its record high till date.
In the current session, Genus Power stock opened higher at Rs 248.70 against the previous close of Rs 246.15 on BSE.
Market cap of Genus Power stood at Rs 6296.67 crore.
A total of 0.31 lakh shares of the firm changed hands, amounting to a turnover of Rs 75.87 lakh on BSE.
Genus Power stock has a one-year beta of 0.2, indicating very low volatility during the period.
Genus Power shares have delivered multibagger returns of 789.31% in three years. In a year, the stock has clocked 161% returns.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 51.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 100 day and 200 day moving averages.
Shiju Koothupalakkal - Technical Research Analyst, Prabhudas Lilladher said, “The stock has slipped from the resistance zone of 285 levels and currently is trading with a weak bias moving below the significant 50EMA level of 245 zone and also the RSI which is sliding gradually is near the weak zone. The near-term support would be at 225 levels which is where the important 100 period MA is lying. For the bias to improve, it needs to breach above the 255 zone to establish some conviction and then anticipate for further upward move.”
Abhijeet from Tips2trades said, "Genus Power is bearish on the Daily charts with immediate resistance at Rs 254. A daily close above this resistance could lead to target of Rs 282 in the near term. Next support will be at Rs 222.5."
Genus Power logged a revenue of Rs 308 crore in the September 2023 quarter against a revenue of Rs 223 crore in the corresponding quarter a year ago. Profit rose to Rs 49.2 crore in Q2 against Rs 6.5 crore in the corresponding quarter of the previous fiscal.
Operating profit climbed to Rs 26.3 crore in Q2 against Rs 16.8 crore in the corresponding quarter of the previous fiscal.
Net profit climbed to Rs 35 crore in FY23 against Rs 21.8 crore profit in FY22. Revenue from operations surged to Rs 826.8 crore in the last fiscal against Rs 711.9 crore for the fiscal ended March 2022.
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.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Stock recommendations for November 24, 2023: CDSL, Bajaj Auto and Star Health
Also read: Suzlon Energy shares climb 5% for 2nd day; 6-month return now at 305%