Genus Power Infrastructures shines as its arm gets LOA worth Rs 2,209.84 crore
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Genus Power Infrastructures is currently trading at Rs. 187.05, up by 5.45 points or 3.00% from its previous closing of Rs. 181.60 on the BSE.
The scrip opened at Rs. 183.45 and has touched a high and low of Rs. 195.75 and Rs. 181.40 respectively. So far 112594 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 195.75 on 8-Aug-2023 and a 52 week low of Rs. 72.55 on 8-Aug-2022.
Last one week high and low of the scrip stood at Rs. 195.75 and Rs. 172.05 respectively. The current market cap of the company is Rs. 4678.70 crore.
The promoters holding in the company stood at 50.42%, while Institutions and Non-Institutions held 8.01% and 41.56% respectively.
Genus Power Infrastructures’ wholly owned subsidiary has received a letter of award (LOA) of Rs 2,209.84 crore (net of tax) for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 21.77 lakh Smart Prepaid Meters, on DBFOOT (Design, Build, Finance, Own, Operate, Transfer) basis under Revamped Distribution Sector Scheme (RDSS). Post this order inflow, company’s total order book stands at in excess of Rs 8,200 crore (net of tax).
Many State Electricity Boards (SEBs) have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme'. Based on its analysis, the company anticipates a robust surge in order volumes during the forthcoming quarters of fiscal year 2024.
