Genus Power Infrastructures soars on getting LoA worth Rs 2,207.53 crore
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Genus Power Infrastructures is currently trading at Rs. 143.60, up by 14.00 points or 10.80% from its previous closing of Rs. 129.60 on the BSE.
The scrip opened at Rs. 145.75 and has touched a high and low of Rs. 145.75 and Rs. 149.65 respectively. So far 251693 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 149.65 on 04-Jul-2023 and a 52 week low of Rs. 72.55 on 10-Aug-2022.
Last one week high and low of the scrip stood at Rs. 149.65 and Rs. 114.68 respectively. The current market cap of the company is Rs. 3338.99 crore.
The promoters holding in the company stood at 50.43%, while Institutions and Non-Institutions held 7.57% and 42.00% respectively.
Genus Power Infrastructures has received a letter of award (LoA) of Rs 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 lakh Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting and FMS of these 27.69 lakh smart meters.
Many State Electricity Boards (SEBs) have issued requests and solicited bids for the installation of smart meters, indicating that the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme' is having a tangible effect. The company foresees a strong influx of orders in the upcoming quarters of FY24.
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.
