During the day, shares of Genus Power reached a high of Rs 168.90 per share on the BSE after opening at Rs 154 per share.
Genus Power Infrastructures has reported an increase of about 46 percent in 4 days and an increase of 66 percent in the last month
For the fourth straight season, shares of Genus Power Infrastructures were up 20 percent in Wednesday’s trading. With this, the small cap company posted an increase of about 46 percent in 4 days and an increase of 66 percent in the last month.
At 12:52 PM, shares of Jaipur-based Genus Power Infra rose 19.04 percent or Rs 26.80 to trade at Rs 167.90 each on the BSE. The stock reached the 20 percent upper limit at 9:46 a.m. and continued until 10:20 a.m. before falling a bit. It is currently trading about 19 percent higher.
During the day, it reached a high of Rs 168.90 per share on the BSE after opening at Rs 154 per share. In terms of volume, the company’s 12,49,477 shares were traded.
A month ago on 5 June 2023, shares of Genus Power stood at Rs 98.26 apiece on the BSE.
The share increase of Genus Power Infrastructures
Shares of the company are up about 30 percent over the past two trading sessions. It happened after the company announced the signing of definitive agreements with Gem View Investment, a subsidiary of GIC, Singapore, to establish a platform for executing concessions for advanced metering infrastructure service providers.
According to a BSE filing, GIC will hold a 74 percent stake, while Genus will hold a 26 percent stake in the platform. The companies have also committed to an initial pipeline with a capital expenditure of $2 billion. Genus will be the exclusive supplier of the smart meter platform and related services.
Apart from this, Genus Power has also received an award letter (LOA) of Rs 2,207.53 crore for the appointment of Advanced Metering Infrastructure Service Provider (AMISP) which includes design of AMI system with supply, installation and commissioning of 27.69 Lakhs Smart Prepaid Meters, Feeder Meter , DT Meter level energy accounting and FMS of these 27.69 lakh smart meters.
The Fundamentals of Genus Power
Genus Power’s market cap currently stands at Rs 3,630 crore. The company’s P/E or price-to-equity ratio, which indicates how expensive the stock is, is 113.63, compared to the industry’s P/E of 23.82. The debt-to-equity ratio of the company is 0.35.
Genus Power Infra posted a loss of Rs 11 crore in the March 2023 quarter. However, it posted a profit of Rs 29 crore for the full financial year 2022-23.
Sensex, handy on Wednesdays
Reference indices were flat in Wednesday’s weakness following trade elsewhere in Asia following a sharp drop in China’s services PMI for June. The BSE Sensex fell 21 points to 65,458 and the NSE Nifty50 was unchanged at 19,385.
HDFC and HDFC Bank led losses on the Sensex, each by 2 percent. Wipro, NTPC, Eicher Motors were the other front line losers. On the other hand, IndusInd Bank, Asian Paints, Divi’s Lab, ICICI Bank, HCL Tech, Infosys, Tech M and HDFC Life were the top winners in the two major benchmarks.
However, the broader markets were higher and outperformed the benchmarks. The BSE MidCap and SmallCap indices rose to 0.4 percent.
