Multibagger Small Cap Electric Stock Declares Dividend, Hits New 52-Week High

Shares of small cap company operating in Electric sector, Genus Power Infrastructures Ltd on July 4 announced final dividend of Re 0.75 per equity share of face value of Re 1/- each. Genus Power Infrastructures shares traded new 52-week high on BSE today. Genus Power stock gained 8.80% intraday to end at Rs 141.00 per share. Genus Power Infrastructures stock offered 92% return in last 1-year. Check details below:

Genus Power Announces Final Dividend: According to the BSE filing of the company, "recommended a dividend of Re. 0.75 (Paisa Seventy Five only) per equity share of face value of Re. 1/- each (75% of the face value) for the financial year ended March 31, 2023 (FY 2022-23). Payment of dividend is subject to approval of the members at the ensuing Annual General Meeting."

The company also approved raising funds through issue of 4,59,78,965 (Four Crores, Fifty Nine Lakhs, Seventy Eight Thousand, Nine Hundred and Sixty Five) share warrants for an aggregate consideration of up to INR 5,19,01,05,569.20 (Rupees Five Hundred and Nineteen Crores, One Lakhs, Five Thousand, Five Hundred and Sixty Nine and paise twenty only), in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 by way of a preferential issue on a private placement basis, subject to the approval of the members of the Company.

Genus Power Stock Outlook & Return: Last trading price of Genus Power share is Rs 141.00 per share on BSE. Its 52-week high price is Rs 149.65 per share and 52-week low price is Rs 72.55 per share, respectively. The stock hit new 52-week high on July 3 and July 4, 2023. It has a market capitalisation of Rs 3,632.69 crore. Genus Power shares offered return of 66% in last 3-months, 92% return in last 1-year, 113% return in last 2-years, and 505% return in last 3-years.

Genus Power Bags Order Worth Rs 2207.53 Crore: According to the BSE filing of the company, "Genus Power Infrastructures Limited has received a letter of award (LOA) of Rs. 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 Lakhs Smart Prepaid Meters, Feeder Meter, DT Meter level energy accounting and FMS of these 27.69 Lakhs smart meters."

Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, "We are delighted to announce that our company has won a significant order worth Rs. 2,207 crore. This is a significant achievement for our company, and it is a testament to our commitment to providing innovative and reliable solutions to our customers. It also demonstrates the trust that our customers have in our ability to deliver high-quality products and services."

About Genus Power: Genus Power Infrastructures Ltd., started in 1995, is amongst the largest players in India's electricity metering solutions industry, with ~27% market share. Company is market leader in various kinds of meters and has developed 'smart metering solutions', with in house R&D centre. Company also has engineering, construction, and contracts (ECC) division which complements the existing meters business.

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