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Published: December 16, 2023
Updated: December 16, 2023

Genus Power Lights Up Markets with a 177% Surge: Lands Rs 1,026 Crore Order

In a stunning display of market prowess, shares of Genus Power Infrastructures Ltd surged by 177% in 2023, marking an impressive trajectory amidst economic uncertainties. The power stock hit an upper circuit of 5% in early trading, propelled by the company's subsidiary securing a significant Letter of Award (LOA) worth Rs 1,026.31 crore.

Market Triumph: Shares Soar to Rs 234.50 on BSE:

Genus Power shares dazzled the market, rising 5% to Rs 234.50 on the Bombay Stock Exchange (BSE) today, building on the previous close of Rs 223.35. The market cap of Genus Power soared to Rs 6041.61 crore, further underlining its remarkable performance.

Order Win Sparks Excitement:

The upper circuit was triggered by the announcement that Genus Power's wholly owned subsidiary clinched a substantial order for Advanced Metering Infrastructure Service Providers (AMISPs). The order encompasses the design of an Advanced Metering Infrastructure (AMI) system, along with the supply, installation, and commissioning of about a million Smart Prepaid Meters.

Market Dynamics: Multibagger Returns and Technical Indicators:

Genus Power shares have been a multibagger sensation, delivering a staggering 575% returns in three years. In the past year alone, the stock has surged by an impressive 157%, contributing to the remarkable 177% rally in 2023. The company's one-year beta of 0.1 underscores its low volatility during this period.

Financial Fortitude: Robust Q2 Performance and Growth Outlook:

The financial backdrop is equally impressive, with Genus Power reporting a robust performance in Q2. Net profit rose to Rs 49.2 crore, marking a significant increase from the corresponding quarter in the previous fiscal year. With a total order book surpassing Rs 20,000 crore, the company's Joint Managing Director, Jitendra Kumar Agarwal, expressed confidence in maintaining high standards of quality, innovation, and customer satisfaction.

In the wake of a challenging economic landscape, Genus Power emerges as a beacon of success, consistently securing orders and achieving substantial financial growth. The company's commitment to excellence, evident in its recent order wins and financial performance, positions it as a noteworthy player in the power sector. As Genus Power continues to illuminate the market, its trajectory suggests a resilient and promising future.