Genus Power Won the Order worth Rs 125cr and Thus Rises 5%
On Thursday, it was observed that the share price of Genus Power Infrastructures gained 5.3 percent intraday. As the company bagged an order worth Rs 125 crore, so immediately the share price gained 5.3 percent intraday. Recently, the Genus Power Infrastructures has received the order for supply, installation, shifting and commissioning of 30,000 3Q meters, LT CT & HT meters with accessories. This will also be including generation of first bill cycle as well as other incidental services.
The estimated value of the order received by the company is of Rs 125 crore. Soon the supplies will begin in the first quarter of the financial year 2019. The company won an order Under the government schemes – Deendayal Upadhyay Gram Jyoti Yojna (DDUGJY) and Integrated Power Development Scheme (IPDS). It is informed that the meters will be installed at CESU, NESCO, SOUTHCO and WESCO utility in Odisha on turnkey basis. The Joint MD of Genus Power, Jitendra Kumar Agarwal has said that he is pleased to have secured this contract for supply and maintenance of LT, CT & HT Meters.
He also went on saying that this order will validate our technology and product development expertise. The company’s focus on product development and order fulfillment has helped us expand our order book and position Genus as a supplier of technologically advanced meters. On the BSE, at 11:03 hrs Genus Power Infrastructures was quoting at Rs 54.15, up Rs 1.25, or 2.36 percent.
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