Genus Power surges as it arm to acquire stake in Maharashtra Akola Amravati Smart Metering
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Genus Power Infrastructures is currently trading at Rs. 338.70, up by 14.30 points or 4.41% from its previous closing of Rs. 324.40 on the BSE.
The scrip opened at Rs. 340.35 and has touched a high and low of Rs. 340.50 and Rs. 332.60 respectively. So far 208066 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 343.80 on 08-Feb-2024 and a 52 week low of Rs. 123.80 on 03-Jul-2023.
Last one week high and low of the scrip stood at Rs. 340.50 and Rs. 303.80 respectively. The current market cap of the company is Rs. 10298.80 crore.
The promoters holding in the company stood at 42.66%, while Institutions and Non-Institutions held 21.87% and 35.46% respectively.
Genus Power Infrastructures’ wholly owned subsidiary -- Genus Power Solutions (GPSPL) has entered into Share Purchase Agreement (SPA) on June 30, 2024 for purchase of 30,000 equity shares representing 30% of the total share capital of Maharashtra Akola Amravati Smart Metering. Upon completion of the aforesaid transfer of shares, Maharashtra Akola Amravati Smart Metering would become a wholly owned subsidiary of GPSPL and a wholly owned stepdown subsidiary of the company.
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.
