Genus Power share price: The stock rose 20 per cent to hit a 52-week high of Rs 168.90. At this price, the stock is up 46.37 per cent in four sessions. It almost doubled this calendar so far.
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Genus Power s stock surged 20% after signing agreements with Gem View Investment, a Singapore affiliate, to establish a platform for advanced metering infrastructure services. GIC will hold a majority stake of 74% in the platform, with Genus holding 26%.
Shares of Genus Power Infrastructures soared over 15% after the company secured a Rs 2,207.53 crore order for the design, installation, and commissioning of 27.69 lakh smart prepaid meters. Jitendra Kumar Agarwal, Joint MD of the company, said the order win provides added revenue visibility for the coming years and signals a strong start to order inflow in FY24. The implementation of the Revamped Distribution Sector Scheme (RDSS) is expected to have a significant impact on the Indian metering industry. The stock has surged 67% year-to-date.