Rs 26 to Rs 256: This power stock turned into a multibagger in three years; stuck in upper circuit today

Shares of Genus Power Infrastructures Ltd have turned multibagger in the last three years. The electrical equipment stock, which closed at Rs 26.15 on August 28, 2020 was stuck in the upper circuit of 5% at Rs 258.75 on BSE in the current session, translating into a gain of 949 per cent during the period. The power stock opened higher at Rs 248.05 against the previous close of Rs 246.45 on BSE. Genus Power shares have gained 205% in 2023 and risen 205% in a year.

A total of 1.52 lakh shares of the firm changed hands, amounting to a turnover of Rs 3.89 crore on BSE. Market cap of the company rose to Rs 6666 crore on BSE. The stock hit a 52-week high of Rs 277 on August 29, 2023 and a 52-week low of Rs 76.50 on October 17, 2022.

Also read: Nifty, Sensex end in red; Maruti, Cipla top gainers; Adani Enterprises, Adani Ports top losers; Nazara Tech, Aeroflex Industries, other stocks that buzzed in trade on August 31, 2023

In terms of technicals, the relative strength index (RSI) of Genus Power stands at 67.9, signaling it's trading neither in the overbought nor in the oversold zone. Genus Power stock has a one-year beta of 1.4, indicating very high volatility during the period. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Genus Power reported 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.

For FY23, net profit climbed to Rs 35 crore 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’s total order book, currently stands in excess of Rs 8,200 crore including the order inflows in August 2023.

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.

Also read: Hot stocks on August 31, 2023: Suzlon Energy, Jio Financial, Dilip Buildcon, BHEL and more

Also read: Adani Enterprises, Adani Power, Adani Green Energy shares: Adani stocks in news after OCCRP report on opaque Mauritius funds