Rs 8,200 crore order book: This multibagger electrical equipment company wins huge order worth Rs 2,209.84 crore for smart meters!
The stock gave multibagger returns of 125 per cent in just 3 months, 170 per cent in 1 year and over 650 per cent in 3 years.
Genus Power Infrastructures Limited’s wholly-owned subsidiary has received a letter of award (LOA) of Rs 2,209.84 crore (net of tax) for the appointment of an Advanced Metering Infrastructure Service Provider (AMISP) including the design of an AMI system with supply, installation and commissioning of 21.77 Lakhs Smart Prepaid Meters, on DBFOOT (Design, Build, Finance, Own, Operate, Transfer) basis under Revamped Distribution Sector Scheme (RDSS).
Post this order inflow, our total order book stands at in excess of Rs 8,200 crore (net of tax). Many State Electricity Boards (SEBs) have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme'. Based on our analysis, the company anticipates a robust surge in order volumes during the forthcoming quarters of fiscal year 2024.
On Wednesday, shares of Genus Power Infrastructure Ltd surged 3.13 per cent to Rs 197.55 per share from its previous closing of Rs 191.55 per share. The shares also traded at a new 52-week high of Rs 197.55 per share with a spurt in volume by more than 2 times on BSE.
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The company has a market cap of Rs 5,000 crore. Furthermore, the company have approved a dividend of 75 per cent or Rs 0.75 per share of a face value of Rs 1 each for the financial year March 31, 2023.
The stock gave multibagger returns of 125 per cent in just 3 months, 170 per cent in 1 year and over 650 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.