Multibagger power stock in news today, here's why
The multibagger stock rose 1.20% to Rs 418.45 on Tuesday against the previous close of Rs 413.50 on BSE. Market cap of Genus Power rose to Rs 12,710 crore.
- Sep 11, 2024,
- Updated Sep 11, 2024 8:30 AM IST
Shares of Genus Power Infrastructures Ltd are in news on Wednesday after the electrical equipment maker said it has incorporated two wholly owned step-down subsidiaries (SPVs) on September 10, 2024. The names of the subsidiaries are Genus Shekhawati Smart Metering Solutions SPV Private Limited and Genus Marwar Smart Metering Solutions SPV Private Limited.
Both the SPVs are the related parties. Both these power infrastructure and distribution industry/business.
The SPVs have been incorporated for the execution of Advanced Metering Infrastructure Service Provider (AMISP) Contract.
Genus Metering Communication Private Limited which is wholly owned subsidiary of the company has acquired 100% stake in both the SPVs.
The multibagger stock rose 1.20% to Rs 418.45 on Tuesday against the previous close of Rs 413.50 on BSE. Market cap of Genus Power rose to Rs 12,710 crore. It has gained 379% in two years and risen 553% in three years. A total of 0.54 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.28 crore on BSE. The power stock opened higher at Rs 417.95 on Tuesday against the previous close of Rs 413.50 on BSE. Genus Power stock has a one-year beta of 0.7, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 53.4, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading lower than the 10 day, 20 day but higher than the 5 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
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 Ltd are in news on Wednesday after the electrical equipment maker said it has incorporated two wholly owned step-down subsidiaries (SPVs) on September 10, 2024. The names of the subsidiaries are Genus Shekhawati Smart Metering Solutions SPV Private Limited and Genus Marwar Smart Metering Solutions SPV Private Limited.
Both the SPVs are the related parties. Both these power infrastructure and distribution industry/business.
The SPVs have been incorporated for the execution of Advanced Metering Infrastructure Service Provider (AMISP) Contract.
Genus Metering Communication Private Limited which is wholly owned subsidiary of the company has acquired 100% stake in both the SPVs.
The multibagger stock rose 1.20% to Rs 418.45 on Tuesday against the previous close of Rs 413.50 on BSE. Market cap of Genus Power rose to Rs 12,710 crore. It has gained 379% in two years and risen 553% in three years. A total of 0.54 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.28 crore on BSE. The power stock opened higher at Rs 417.95 on Tuesday against the previous close of Rs 413.50 on BSE. Genus Power stock has a one-year beta of 0.7, indicating very low volatility during the period.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 53.4, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading lower than the 10 day, 20 day but higher than the 5 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
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.