Investors in Genus Power Infrastructures are seeing a powerful upward trajectory as the electrical equipment company pushes closer to its 52-week high of Rs 290, last reached on September 5 this year. The stock exhibited impressive gains, closing at Rs 273.80 on October 10, marking a 5% increase on BSE. This surge comes in the wake of the company’s wholly-owned subsidiary securing two significant Letters of Award (LoAs) worth Rs 3,115.01 crore for the appointment of advanced metering infrastructure service providers (AMISPs).
Market Cap On the Rise
Genus Power’s market capitalization has risen substantially, currently standing at Rs 7,054.13 crore, signifying growing investor interest and confidence in the company’s potential. The stock experienced a 52-week low of Rs 76.50 on October 17, 2022, showcasing the dramatic transformation in its fortunes over the past year.
A Strong Trading Session
A total of 3.45 lakh shares of Genus Power Infrastructures changed hands in the recent trading session, representing a turnover of Rs 9.43 crore on BSE. The stock opened at Rs 273.80, surpassing its previous close at Rs 260.80 on BSE. It’s worth noting that Genus Power stock has displayed high volatility during the past year, with a one-year beta of 1.5.
Impressive Returns and Technicals
Genus Power shares have delivered remarkable multibagger returns, boasting an impressive 829.71% growth over three years. In the short term, the stock has surged by 221% within six months.
From a technical standpoint, Genus Power shows strength, with a relative strength index (RSI) at 54.5, indicating it’s currently trading within a balanced range, avoiding extreme overbought or oversold conditions. The stock is also trading above its 5-day, 10-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Financial Performance Highlights
In its financial performance, Genus Power has demonstrated robust growth. In the June 2023 quarter, the company recorded a revenue of Rs 280.1 crore, up from Rs 197.1 crore in the corresponding quarter the previous year. Profits also saw significant growth, reaching Rs 23.1 crore in Q1, compared to Rs 11.9 crore in the same period of the previous fiscal year.
Operating profits amounted to Rs 28.5 crore in Q1, surging from Rs 14.3 crore in the corresponding quarter of the previous fiscal year. For the full fiscal year 2023, net profits reached Rs 35 crore, marking a considerable increase from the Rs 21.8 crore profit in fiscal year 2022. Revenue from operations in the last fiscal year climbed to Rs 826.8 crore, compared to Rs 711.9 crore for the fiscal year ending in March 2022.
A Diverse Portfolio
Genus Power Infrastructures primarily focuses on manufacturing and providing metering and metering solutions, along with undertaking engineering, construction, and turnkey contracts. The company operates through two segments: Metering business and Strategic investment activity.
Disclaimer: The article is for informational purposes only and should not be considered investment advice. Readers should consult with financial experts for investment-related decisions.
