Stock under Rs 100: This small-cap company bags an order worth Rs 2855.96 crore!

The stock has jumped more than 6 per cent in the morning trade.

On January 30, 2023, Genus Power Infrastructures Limited informed in the exchange filing that Genus Power Infrastructures and it's 100 per cent subsidiary company (Hi-Print Metering Solutions Private Limited) won an order worth Rs 2855.96 crore. The order involves the appointment of an advanced metering infrastructure service provider (AMISP) including the design of an AMI system with supply, installation and commissioning of 29.49 lakh smart prepaid meters, DT Metering, HT & feeder metering level energy accounting and FMS of these 29.49 Lakh smart meters.

Many state electricity boards (SEBs) have issued requests and solicited bids for the installation of smart meters, indicating that the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme' is having a tangible effect. The company anticipates robust order inflow in the coming quarters of FY24.

Genus Power Infrastructures Ltd started in 1995, is amongst the largest players in India’s electricity metering solutions industry, with a 27 per cent market share. The company is a market leader in various kinds of meters and has developed ‘smart metering solutions’, with an in-house R&D centre.

Today, the stock opened at Rs 85.90 and made a high and low of Rs 93.80 and 84.70. The stock previously closed at Rs 85.90. It is currently trading at Rs 91.20, up by 6.17 per cent.

The scrip is a part of group A with a market capitalisation of Rs 2,349.27 crore. The stock has a 52-week high of Rs 113.00 and a 52-week low of Rs 58.20.