Genus Power Locked In Upper Circuit After Rs 1,026-Crore Smart-Meter Deal
The company's total order book has surpassed the Rs 20,000-crore milestone.
Shares of Genus Power Infrastructures Ltd. were locked in an upper circuit of 5% on Friday after its subsidiary received a Rs 1,026-crore order for around 10 lakh smart prepaid meters.
"With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs 20,000 crore," Jitendra Agarwal, joint managing director of the company, said in an exchange filing on Thursday.
On the NSE, Genus Power's stock was trading 4.99% higher at Rs 234.50 apiece compared to a 0.64% advance in the benchmark Nifty 50 as of 10.44 a.m.
The share price has risen 176% year-to-date. The total traded volume so far in the day stood at 7.7 times its 30-day average. The relative strength index was at 49.8.
Two analysts tracking Genus Power maintain a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 17.3%.
