In today’s early morning trade, shares of Genus Power Infrastructures, one of the biggest players in India’s electricity metering solutions market, were locked in at a 5% upper circuit limit. After the company announced that its wholly owned subsidiary secured significant orders, the shares hit a new all-time high of ₹428.

In an exchange filing on Tuesday, the firm stated that its subsidiary won three Letter of Awards (LOAs) worth a total of ₹3,608.52 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs).  These include the design of the Advanced Metering Infrastructure (AMI) system with supply, installation, and commissioning with an FMS of approximately 4.26 million Smart Prepaid Meters, system meters including DT Meters and corresponding energy accounting on a DBFOOT basis.

The company’s overall order book has increased to ₹28,000 crore with the most recent order win, giving them strong revenue visibility.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Genus Power Infrastructures Ltd.’s shares are trading at a 5% upper circuit after its wholly-owned subsidiary received three Letter of Award.

In an exchange filing, Genus Power announced that its unit received three Letters of Awards (LoAs) worth ₹2,925.5 crore for Advanced Metering Infrastructure Services, including design, supply, installation and commissioning for approximately 3.75 million Smart Prepaid Meters and system meters on a DBFOOT basis.

Genus Power’s total order book currently stands at ₹24,383 crore, including SPVs and the GIC platform.

Genus Power’s shares are up 5% at ₹408.05.05. In 2024, the stock has gained 75% so far and in the last 12 months, it has given investors a 91% gain.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.