Akash Bhanshali Picks Up Stake In This Multibagger Small Cap Stock, Shares Jump

Shares of Genus Power Infrastructure jumped back in the green on Tuesday morning halting its two straight session losing streak.

What Happened: The surge today comes as the company filed its latest shareholding pattern data with the exchanges. The latest shareholding pattern reveals ace investor Akash Bhanshali as one of the shareholders.

As per the filing, Bhanshali now owns a 1.40% stake in the company which is equivalent to 36.08 lakh shares. His holding is worth around ₹90 crore.

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Last month, the small-cap company announced that its wholly-owned subsidiary has been awarded a Letter of Award (LOA) valued at ₹1,026.31 crore (net of taxes). The award pertains to the design of Advanced Metering Infrastructure (AMI) systems. The scope includes the supply, installation, and commissioning, along with facility management services (FMS), for approximately 10 lakh Smart Prepaid Meters.

The stock has been riding the bullish wave, going up over 170% in the past year.

Price Action: Genus’s share price was up 1.16% to trade at ₹248.65 on Tuesday morning.

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Posted In: EquitiesMarketsMoversTrading IdeasAkash BhanshaliGenus Power