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This power stock has risen 594% in nearly 3 years

Share of Genus Power Infrastructure have provided exceptional returns to investors since COVID lows, rising nearly 7 times.

Brokerage house ICICI Securities has a ‘buy’ call on the stock with a target price of 121.

The company posted a net profit of 22 crore in Q3FY23, up 47 percent from its net profit of 15 crore in the same quarter last year.

GPIL received LoA worth 2,420 crore from the state of Assam for the implementation of advanced metering infrastructure (AMI) for installation and operations of 2.949 mn smart meters in Jan’23.

Order book stands at 4,099 crore (net of taxes) from 1,680 crore at Q3FY23-end.

Management expects semiconductor supplies to normalise in FY24 and commodity prices to ease further.

ICICI Securities assigns 17x multiple (its 10-year historical average) to GPIL's FY25E earnings.

Click here to know more about this multibagger stock.

Multibagger Alert: This power stock has risen 594% in nearly 3 years

The stock soared from ₹12.5 in March 2020 to currently trade around ₹87, surging as much as 594 percent.

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Multibagger Alert: This power stock has risen 594% in nearly 3 years

The stock soared from ₹12.5 in March 2020 to currently trade around ₹87, surging as much as 594 percent.

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