Genus Power Stock At Record-high With Upper Circuit After Firm Wins Mega Orders
The subsidiary will supply, install and commission with FMS of about 5.59 million smart prepaid meters
The stock of Genus power hit 5 per cent upper circuit in the Thursday trading session after the firm's wholly owned subsidiary, Genus Power Infrastructure received three letter of awards (LOA) worth totaling to Rs 4,469.04 crore.
Genus Power stock locked in upper circuit at Rs 465 in the morning session on the Bombay Stock Exchange (BSE).
Genus Power Infrastructure won orders for the appointment of advanced metering infrastructure service providers (AMISPs) including design of advance metering infrastructure (AMI) system.
The subsidiary will supply, install and commission with FMS of about 5.59 million smart prepaid meters, system meters including DT meters with corresponding energy accounting on DBFOOT basis.
"Over the past few weeks, we have won three major orders, cumulatively valued at Rs 11,003.08 crore. This includes orders worth Rs 2,925.52 crore and Rs 3,608.52 crore won in the third week of August and an additional Rs 4,469.04 crore secured now. These achievements bring our total order book to about Rs 32,500 crore. These concessions are for eight to ten years, providing clear visibility into the company's robust future growth,” said Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures.
Agarwal further shared that the ongoing investments in workforce expansion and system upgrades will enable the company to execute these projects with precision, maintaining our competitive edge in the industry.
Stocks of Genus Power Infrastructures hit record high of Rs 437 with 5 per cent upper circuit in the last week trading session after the electric components and equipment manufacturer’s subsidiary received a mega order.
Genus Power Infrastructures’ wholly owned subsidiary received three LOAs 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.
