Genus Power hits new high

Genus Power Infra hit a new 52-week high today at Rs.68.90 and is now at Rs.65 levels, just about holding on to the gains made.

The stock has zoomed up on news that it has won an order from EESL for supply of 13.5 lakh smart meters for the states of Haryana and Uttar Pradesh.

This tender was opened in October by EESL for the supply of 50 lakh Smart Meters where Genus emerged as L2 bidder. The value of the order is pegged at Rs.453 crore.

Post this wind, our total order book stand at Rs.1,226 crore. Supplies are expected to commence from Q1FY19.

Genus Power is amongst the largest players in India’s electricity metering solutions industry, with 27% market share. Its key customers include the major State electricity boards (SEB’s) and private utilities.