Genus Power shares rally 5% to hit upper circuit on Rs 1,026-crore order win
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In October, the company received a letter of award worth Rs 3,121 crore for the appointment of advanced metering infrastructure
Shares of Genus Power Infrastructures Limited gained 5 percent to Rs 234 and were locked in the upper circuit early on December 15 after the company announced its wholly owned subsidiary received a Rs 1,026-crore order for the appointment of advanced metering infrastructure service providers (AMISPs).
Genus Power is among the largest players in India’s electricity metering
solutions industry with about 27 percent market share. The company manufactures various kinds of meters and has also developed “smart metering solutions”.
In the last six months, the stock has given a return of 105 percent.
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Since July 2023, the company has secured a total of seven orders, amounting to about Rs 16,185 crore and, with the addition of the latest order, Genus’ total order book has surpassed Rs 20,000 crore. “We remain committed to maintaining the highest standards of quality, innovation, and customer satisfaction,” Jitendra Kumar Agarwal, joint MD of the company said in a press release on December 14.
In October, the company received a letter of award worth Rs 3,121 crore for the appointment of advanced metering infrastructure service providers. This includes designing an advanced metering infrastructure (AMI) system with supply, installation and commissioning of 3.6 million smart prepaid meters and system meters on a design-build-finance-own-operate-transfer (DBFOOT) basis.
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