Shares of Genus Power saw only buyers as it was firmly locked in its five percent upper circuit as the firm's wholly-owned subsidiary bagged three Letter of Awards, clocking in at almost Rs 3,000 crore.
The subsidiary received three Letter of Awards (LOA) worth totaling to Rs. 2,925.52 crore for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs).
At 10:40 am, Genus Power shares were quoting Rs 408.05 on the NSE, up five percent.
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"This includes the design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 3.75 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis," said the firm in an exchange filing.
DBFOOT means Design, Build, Finance, Own, Operate and Transfer.
Following the recent order wins, Genus Power's total order book exceeds Rs 24,383 crore. "These concessions are for 8 to 10 years, providing clear visibility into the Company's robust future growth. As we celebrate this achievement, we remain dedicated to upholding the highest standards of quality, innovation, and customer satisfaction," said Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures.
Over the past 12 months, Genus Power shares have jumped 90 percent, outperforming the frontline Nifty 50 index that has gained around 27 percent in trade during the same time period.
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