Genus Power Infrastructures Ltd.'s shares gained 6 percent in morning trade on Monday after winning orders worth Rs 2,856 crore for the installation of smart meters and allied work.

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The Jaipur-based company and its wholly-owned subsidiary, Hi-Print Metering Solutions Pvt. Ltd., have received letters of award (LoA) worth Rs 2,855.96 crore for the appointment of an advanced metering infrastructure service provider (AMISP) including the design of AMI system with supply, installation, and commissioning of 29.49 lakh smart pre-paid meters, DT metering, HT and feeder metering level energy accounting as well as FMS of these 29.49 lakh smart meters.

The total order value is said to be nearly triple that of the company’s market capitalisation.

The company expects robust order inflow in the fiscal year 2024, as many State Electricity Boards (SEBs) issued requests and solicited bids for the installation of smart meters.

Genus Power Infrastructures Ltd. stock is trading 6.76 percent higher at Rs 91.60.

(Edited by : Rukmani Krishna)