Genus Power stock freezes at 5% upper circuit after company wins order worth Rs 2,247 crore

Genus Power share price: Shares of Genus Power Infrastructures were locked in at the 5 per cent upper circuit limit of Rs 271.60 apiece on the BSE on Friday (September 1), a day after the company announced that its step-down wholly-owned subsidiary has received a letter of award (LOA) of Rs 2,247.37 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of the Advance Metering Infrastructure (AMI) system with supply, installation, and commissioning with an FMS of 24.18 lakh smart prepaid metres and system metres including OT metres with corresponding energy accounting under the DBFOOT model (HYBRID Model, CAPEX Plus OPEX).

Commenting on the order win, Jitendra Kumar Agarwal, Joint Managing Director at Genus Power Infrastructures Ltd. said, "We are delighted to announce the win of yet another major order for smart meters. This is the third such order in the last two months, and it is a testament to the trust that our customers have in our capabilities."

"Our total order book now stands at around Rs. 11,000 crore (net of taxes), which signifies a landmark for our organisation, instilling us with a resolute belief that it will act as a driving force for exponential growth in our business operations within the Indian market. It further strengthens our position as the leading smart metering solution provider in India," Agarwal added.