Shares of Genus Power Infrastructures Ltd have fallen 24% from their record high in over a month. The multibagger stock reached a high of Rs 485.85 on December 3, 2024. Genus Power shares were trading at Rs 369.70, down over 1% on BSE in the current session. It opened higher at Rs 377.35 in the current session against the previous close of Rs 373.50. Market cap of Genus Power fell to Rs 11,151 crore.
A total of 0.27 lakh shares of the firm changed hands, amounting to a turnover of Rs 1 crore on BSE. Genus Power stock has a one-year beta of 1.1 indicating very high volatility during the period.
Genus Power shares have delivered multibagger returns of 306% in two years. In a year, the stock has clocked 48% returns. The stock rallied 410% in three years.
In terms of technicals, the relative strength index (RSI) of Genus Power stands at 43, signaling it's trading neither in the overbought nor in the oversold zone. Genus Power stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.
Genus Power shares fell to a 52-week low of Rs 204.60 on March 14, 2024.
Axis Securities said order execution to pick up pace in H2FY25, recent correction offers good entry point and a key player in growing smart metering space with 27% market share. This makes the stock a good buy.
"The company recorded a revenue of Rs 901 Cr in H1FY25 with the FY25 guidance being Rs 2500 Cr. The management remains confident of achieving the annual target. This would be driven by a strong performance in H2FY25 led by a pick up in the pace of execution. We believe expectations of a strong performance in H2FY25 along with the recent correction in the stock provides a good entry point at current levels. The stock is currently trading at 18x FY26E EV/EBITDA," said the brokerage.
"We recommend a BUY rating on the stock with a target price of Rs 408/share, implying an upside of 10% from the CMP," the brokerage added.
The buy call is for a period of 6 to 9 months.
Genus Power is primarily engaged in manufacturing/providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis. The company operates through two segments: Metering business and Strategic investment activity. etc..