698 per cent returns: Small-cap launches wholly owned powerhouse; do you have it in your portfolio?
The stock has witnessed significant buying activity as it has given multibagger returns of more than 135 per cent in just 1 year.
On Thursday, the Sensex and Nifty began the day on a positive note both recording gains of 0.38 per cent and 0.42 per cent, respectively. However, as the session progressed, both indices reversed their initial gains, closing lower with the Sensex falling by 0.66 per cent and the Nifty by 0.6 per cent.
In contrast, Genus Power Infrastructures Limited’s shares showcased remarkable performance in this volatile market, surging by 4.24 per cent. The company's current market capitalization is Rs 4,718.64 crore.
On July 26, 2023, the company successfully established a wholly-owned subsidiary named Genus Mizoram SPV Private Limited.
Genus Mizoram SPV Private Limited is primarily engaged in the manufacturing of consumption meters for electricity. It has been specifically incorporated as a Special Purpose Vehicle (SPV) with the purpose of executing the Advanced Metering Infrastructure Service Provider (AMISP) Contract. The company's focus is on providing advanced metering solutions to meet the requirements of the contract in the electricity sector.
Overall, Genus Mizoram SPV Private Limited holds strategic importance for Genus Power Infrastructures Limited, facilitating its presence and growth in the power sector through the execution of the Advanced Metering Infrastructure Service Provider (AMISP) Contract.
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Genus Power Infrastructures Limited, founded in 1992 as part of the esteemed Kailash Group, specializes in manufacturing and offering Metering and Metering Solutions. The company excels in the "Engineering, Construction, and Contracts" domain, providing comprehensive turnkey solutions as a core business division. Additionally, Genus Power Infrastructures undertakes strategic investment activities to complement its diversified portfolio.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 135 per cent in just 1 year moreover the stock has zoomed 698 per cent in the last 3 years.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.