Multibagger power stock hits record high, stuck in upper circuit on multiple order wins
The multibagger stock was stuck in the upper circuit of 5% at Rs 438.35, its record high, on BSE on Wednesday against the previous close of Rs 417.50.
- Aug 21, 2024,
- Updated Aug 21, 2024 12:55 PM IST
Shares of Genus Power Infrastructures hit a record high on Wednesday after the smart meter producer said its wholly owned subsidiary won orders worth Rs 3,608.52 crore. The multibagger stock was stuck in the upper circuit of 5% at Rs 438.35, its record high, on BSE on Wednesday against the previous close of Rs 417.50. It opened 5% higher in the current session. Market cap of Genus Power rose to Rs 13,315 crore.
A total of 1.54 lakh shares of the firm changed hands, amounting to a turnover of Rs 6.74 crore on BSE. Genus Power stock has a one-year beta of 0.6, indicating very low volatility during the period.
Genus Power shares have delivered multibagger returns of 464.32% in two years. In a year, the stock has clocked 105.32% returns. The stock rallied 607.59% in three years. In terms of technicals, the relative strength index (RSI) of Genus Power stands at 69.5, signaling it's trading neither in the overbought nor in the oversold 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.
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 4.26 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, "Our Company has successfully secured three new orders worth of Rs. 3,608.52 Crore (net of taxes). This ongoing success highlights the trust our clients place in our expertise and the exceptional quality of our offerings. With these recent orders, our total order book, including all SPVs and the GIC Platform, stands at about Rs. 28,000 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company's robust future growth. As we celebrate this achievement, we remain dedicated to upholding the highest standards of quality, innovation, and customer satisfaction."
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.
Shares of Genus Power Infrastructures hit a record high on Wednesday after the smart meter producer said its wholly owned subsidiary won orders worth Rs 3,608.52 crore. The multibagger stock was stuck in the upper circuit of 5% at Rs 438.35, its record high, on BSE on Wednesday against the previous close of Rs 417.50. It opened 5% higher in the current session. Market cap of Genus Power rose to Rs 13,315 crore.
A total of 1.54 lakh shares of the firm changed hands, amounting to a turnover of Rs 6.74 crore on BSE. Genus Power stock has a one-year beta of 0.6, indicating very low volatility during the period.
Genus Power shares have delivered multibagger returns of 464.32% in two years. In a year, the stock has clocked 105.32% returns. The stock rallied 607.59% in three years. In terms of technicals, the relative strength index (RSI) of Genus Power stands at 69.5, signaling it's trading neither in the overbought nor in the oversold 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.
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 4.26 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, "Our Company has successfully secured three new orders worth of Rs. 3,608.52 Crore (net of taxes). This ongoing success highlights the trust our clients place in our expertise and the exceptional quality of our offerings. With these recent orders, our total order book, including all SPVs and the GIC Platform, stands at about Rs. 28,000 crore (net of taxes). These concessions are for 8 to 10 years, providing clear visibility into the Company's robust future growth. As we celebrate this achievement, we remain dedicated to upholding the highest standards of quality, innovation, and customer satisfaction."
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.