Tag: SmartMeters

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  Genus Power Infrastructures Ltd’s Subsidiary Secures Rs 2,247.37 Crore Order for Smart Meters, Shares Surge

  In a significant development, Genus Power Infrastructures Ltd's subsidiary has clinched a substantial order valued at Rs 2,247.37 crore for the deployment of smart meters. This achievement propelled the company's shares to a five percent gain, reaching Rs 271.6 on the BSE, and it is now tantalizingly close to its 52-week high of Rs 277. With a market capitalization of nearly Rs 7,000 crore, Genus Power continues to assert its presence in the market. The order encompasses the comprehensive design, supply, installation, and commissioning of 24.18 lakh smart prepaid meters and system meters as part of an Advanced Metering Infrastructure (AMI) system. The company foresees a promising future, with expectations of continued order growth in the forthcoming quarters, driven by the procurement initiatives of State Electricity Boards (SEBs). Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures, expressed enthusiasm about securing another major order, making it the third in just two months. With a burgeoning order book now standing at approximately Rs 11,000 crore, Genus Power is poised for further success in the Advanced Metering Infrastructure (AMI) sector.