Multibagger power stock headed for fresh 52-week high; hit 5% upper circuit in previous session

Shares of multibagger Genus Power Infrastructures Ltd are headed toward the 52-week high of Rs 290 they touched on September 5 this year. The electrical equipment stock closed at Rs 273.80, 5% higher on BSE on October 10 after the electricity metering solutions company said its wholly owned subsidiary received two letters of awards (LoAs) worth Rs 3,115.01 crore for appointment of advanced metering infrastructure service providers (AMISPs).

Market cap of Genus Power rose to Rs 7054.13 crore.

A total of 3.45 lakh shares of the firm changed hands, amounting to a turnover of Rs 9.43 crore on BSE. Market cap of the company rose to Rs 7054.13 crore on BSE. The stock fell to a 52-week low of Rs 76.50 on October 17, 2022. The power stock opened higher at Rs 273.80 against the previous close of Rs 260.80 on BSE. Genus Power stock has a one-year beta of 1.5, indicating very high volatility during the period.

Genus Power shares have delivered multibagger returns of 829.71% in three years. In six months, the stock has clocked 221% returns.

In terms of technicals, the relative strength index (RSI) of Genus Power stands at 54.5, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Genus Power logged a revenue of Rs 280.1 crore in the June 2023 quarter against a revenue of Rs 197.1 crore in the corresponding quarter a year ago. Profit rose to Rs 23.1 crore in Q1 against Rs 11.9 crore in the corresponding quarter of the previous fiscal.

Operating profit climbed to Rs 28.5 crore in Q1 against Rs 14.3 crore in the corresponding quarter of the previous fiscal. Net profit climbed to Rs 35 crore in FY23 against Rs 21.8 crore profit in FY22. Revenue from operations surged to Rs 826.8 crore in the last fiscal against Rs 711.9 crore for the fiscal ended March 2022.

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.

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