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.
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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%.
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