Stocks of Genus Power Infrastructures hit record high of Rs 437 with 5 per cent upper circuit in the Wednesday trading session after the electric components and equipment manufacturer’s subsidiary received a mega order.
Genus Power Infrastructures stock locked in the 5 per cent upper circuit at Rs 437.75 in the morning session on the National Stock Exchange (NSE).
Genus Power Infrastructures’ wholly owned subsidiary received three letter of awards (LOA) worth totaling to Rs. 3,608.52 crore for appointment of advanced metering infrastructure service providers (AMISPs).
The order also included 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.
“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,” said Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures.
He further informed that these concessions are for eight to ten years, providing clear visibility into the company's robust future growth.
In terms of stocks performance, Genus Power Infrastructures stock rallied more than 90 per cent in 2024 so far, whereas benchmark index, Nifty 50 returns stood at nearly 14 per cent.
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