Genus Power Infrastructure Shares Hit Upper Circuit On Rs 2,247-Crore Order Win

Shares of Genus Power Infrastructures Ltd. hit the upper circuit of 5% on Friday after its wholly owned subsidiary bagged a Rs 2,247.4-crore order.

The manufacturer of smart energy meters received a letter of award for 24.18 lakh advanced metering infrastructure service, including their design, supply, installation, and commissioning, according to an exchange filing on Thursday.

Genus Power's stock was trading at Rs 271.5 apiece compared to a 0.31% advance in the benchmark NSE Nifty 50 as of 9:54 a.m.

It has risen 221.3% on a year-to-date basis. The total traded volume stood at 0.2 times its 30-day average. The relative strength index was at 75, implying that the stock maybe overbought.

Two analysts tracking Genus Power maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 7.9%.