Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; gains over 200 per cent in a year!
Shares of the company have gained more than 80 per cent in the last six months.
Shares of Genus Power Infrastructures Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock witnessed heavy buying activity from investors. Hence, the stock was locked in the upper circuit on Thursday. In the last six months, the stock has gained more than 80 per cent.
Furthermore, Genus Power Infrastructures Limited recently won a Rs 2,259.94 crore contract to supply, install, and commission 27.33 lakh smart prepaid meters and system meters, including DT meters, with corresponding energy accounting on a DBFOOT basis.
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The company posted strong Quarterly Results in Q2FY24. The revenue of the company stood at Rs 258.96 crore which grew by 18.45 per cent YoY. The operating profit of the company stood at Rs 75.75 crore, while the PAT of the company stood at Rs 48.67 crore, representing an impressive growth of 621.73 per cent YoY. The stock has delivered multibagger returns of about 200 per cent in the last one year. Additionally, DIIs increased their stake in the company in September 2023.
Genus Power Infrastructures Limited 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 the market leader in various kinds of meters and has developed ‘smart metering solutions’, with an in-house R&D center.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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