Genus Power Infrastructures shines as its arm receives LOA worth Rs 2,247.37 crore
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Genus Power Infrastructures is currently trading at Rs. 271.60, up by 12.90 points or 4.99% from its previous closing of Rs. 258.70 on the BSE.
The scrip opened at Rs. 271.60 and has touched a high and low of Rs. 271.60 and Rs. 271.60 respectively. So far 38460 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 277.00 on 29-Aug-2023 and a 52 week low of Rs. 76.50 on 17-Oct-2022.
Last one week high and low of the scrip stood at Rs. 277.00 and Rs. 240.00 respectively. The current market cap of the company is Rs. 6997.45 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’ step-down wholly owned subsidiary has received a letter of award (LOA) of Rs 2,247.37 crore (net of taxes) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of 24.18 lakh Smart Prepaid Meters, system meters including OT Meters with corresponding energy accounting under DBFOOT model (HYBRID Model, CAPEX Plus OPEX).
Many State Electricity Boards (SEBs) have commenced the bidding process to procure smart meters, highlighting the favourable outcomes of the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme'. As previously indicated, the company foresee the robust surge in order volumes to continue in the upcoming quarters of fiscal year 2024.
The company’s total order book now stands at around Rs 11,000 crore (net of taxes) - which signifies a landmark for its organization, instilling it with a resolute belief that it will act as a driving force for exponential growth in its business operations within the Indian market. It further strengthens the company’s position as the leading smart metering solutions provider in India.
Genus Power Infrastructures (GPIL) is engaged in the manufacture and distribution of electronic energy meters, power distribution management projects, hybrid microcircuits, inverters, batteries, home UPS and online UPS in India and abroad.
