Shares of this multibagger energy stock jumped up to 8 percent on Tuesday after the company’s subsidiary bagged an order worth Rs 2,209.84 crores. The company has a market capitalization of Rs 4,900 crores.
The stocks of Genus Power Infrastructures Limited started their trading session today at Rs 182.40 and currently trade at Rs 190. The company’s scrip witnessed an intra-day high, also recorded as the fresh 52-week high mark, of Rs 196 indicating a gain of around 8 percent as compared to the previous close of Rs 181.60 apiece.
Year-To-Date, the company’s stock has proven to deliver multibagger returns of 123% to its stakeholders, i.e., an investment of Rs 1 Lakh would have converted to Rs 2.23 Lakhs within a period of eight months if someone would have invested in the stock.
The company’s shares were on the rise post a BSE filing announcing that the Wholly Owned Subsidiary (WOS) of the company received a Letter of Award (LoA) worth Rs 2,209.84 crores.
The order pertains to the appointment of “Advanced Metering Infrastructure” services including the design, supply, installation, and commissioning of 21.77 Lakhs Smart Prepaid Meters. Post the order, the total order book of the company exceeds Rs 8,200 crores.
“This is the second major order that we have won, after securing an order of Rs. 2,208 crore (net of tax) in last month. This achievement represents a substantial milestone for our organisation, and we possess a strong conviction that it will serve as a catalyst for exponential business expansion within the Indian market.”, commented Mr. Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures.
According to the shareholding pattern data pertaining to the quarter ending June 2023, the Promoters hold a 50.42 percent stake (1.92 percent pledged), and the Foreign Institutional Investors (FIIs) hold a 2.67 percent stake in the company.
Genus Power Infrastructures Limited is involved in the business of manufacturing/providing metering as well as metering solutions that include smart meters, multi-functional single-phase and three-phase meters, availability-based tariff (ABT), grid meters, among others. The company also undertakes engineering and construction contracts on a turnkey basis.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
