This Power Stock Surges 2.27% Following a Major ₹3,608 Crore DealThis Power Stock Surges 2.27% Following a Major ₹3,608 Crore Deal

Shares of Genus Power Infrastructures are making headlines today after the company announced that its wholly-owned subsidiary secured new orders worth Rs 3,608.52 crore. As a result, the stock price rose by 2.27% to Rs 417.50 on the BSE, up from Rs 408.25. The market capitalization of Genus Power now stands at Rs 12,681.75 crore.

On Tuesday, 3.59 lakh shares of Genus Power were traded, resulting in a total turnover of Rs 15.02 crore on the BSE. The stock has a one-year beta of 0.6, reflecting low volatility over the past year. 

Genus Power shares have performed exceptionally well, delivering a return of 437.67% over the past two years. In the last year alone, the stock has gained 92.31%, and it surged by 574% over the past three years.

Technically, the stock’s relative strength index (RSI) is at 69.5, suggesting it is not currently in the overbought or oversold zone. Genus Power shares are trading above their moving averages across various periods.

The orders won include the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). This involves designing and implementing a smart metering system, which includes the supply, installation, and commissioning of approximately 4.26 million smart prepaid meters and other system meters. The project will be executed on a Design, Build, Finance, Operate, and Transfer (DBFOOT) basis.