Shares of Genus Power Infrastructures soared 5 percent to be locked in the upper circuit at Rs 437.75 in morning trade on August 21 after the company announced its wholly-owned subsidiary received three Letters of Awards (LOA) worth Rs 3,608.52 crore.
The orders involve appointing Advanced Metering Infrastructure Service Providers (AMISPs) to design, supply, install, and commission an Advanced Metering Infrastructure (AMI) system. This includes about 4.26 million Smart Prepaid Meters and system meters, such as DT Meters, with corresponding energy accounting on a Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) basis.
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With the recent order win, Genus Power Infrastructures' total order book stands at about Rs 28,000 crore. This isn't the second time in quick succession that the company has bagged an order. Last week, its subsidiary secured three Letters of Award (LoA) totalling Rs 2,925.5 crore.
The contracts are for providing Advanced Metering Infrastructure Services, including the design, supply, installation, and commissioning of an Advanced Metering Infrastructure system for approximately 3.75 million Smart Prepaid Meters and system meters on a DBFOOT (Design, Build, Finance, Own, Operate, and Transfer) basis.
Genus Power shares have rallied 88 percent in the past month, outpacing Nifty's gain of 1 percent over the same period.
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