Genus Power Infra Hits Life High After Bagging Orders Worth Rs 3,608 Crore
Shares of Genus Power Infrastructures Ltd. hit a record high after locking in the 5% upper circuit on Wednesday following multiple order win worth Rs 3,608.5 crore.
The company received three letters of award for the appointment of advanced metering infrastructure service providers, including the design of advanced metering infrastructure systems, according to an exchange filing on Tuesday.
The orders also include supply, installation, and commission with an FMS of 4.26 million smart prepaid meters and system meters, including DT meters, with corresponding energy accounting on a design, build, finance, own, operate, and transfer basis, it said.
"With these recent orders, our total order book, including all SPVs and the GIC Platform, stands at about Rs 28,000 crore," Joint Managing Director Jitendra Agarwal said.
Shares of Genus Power gained 5% to hit record high of Rs 437.7 apiece at 9:25 a.m., compared to 0.05% decline in the benchmark NSE Nifty 50.
The stock has gained 105% in the last 12 months, and 82% on a year-to-date basis. The total traded volume so far in the day stood at 1.5 times its 30-day average. The relative strength index was at 46.
The sole analyst tracking Genus Power Infra has a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 1.7%.
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