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Genus Power Infrastructures Limited’s shares were nearly 5 per cent after the company reported that its subsidiary has been awarded two contracts valued at ₹3,115.01 crore for the provision of Advanced Metering Infrastructure Services (AMISPs) and the design, supply, installation, and commissioning of 34.79 lakh Smart Prepaid Meters, along with system meters, including DT Meters and energy accounting on a DBFOOT basis. These contracts come amidst several State Electricity Boards (SEBs) initiating the procurement of smart meters, driven by the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme.’
Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures Ltd, said, “This is a testament to the trust that our customers have in our capabilities and our commitment to providing high-quality products and services. These orders reinforce our dominant market standing as the foremost provider of intelligent metering solutions in the Indian market.”
The increased demand for smart meters aligns with government initiatives to enhance the efficiency of the power sector, including the Revamped Distribution Sector Scheme (RDSS), targeting the installation of 250 million smart meters in households across India. Genus Power Infrastructures Limited now boasts an order book exceeding ₹14,000 crore.
The shares were up by 4.98 per cent to ₹273.80 at 10.50 am on the BSE.
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