Genus Power shares rally 20%, hit 52-week high

New Delhi: Shares of Genus Power & Infrastructure zoomed 20 per cent on Wednesday following news that Singapore’s sovereign wealth fund GIC will acquire a 74 per cent stake in the company’s new smart metering solutions venture for $2 billion (Rs16,000 crore). The stock surged 20 per cent to settle at Rs 168.90 apiece -- its upper circuit limit as also a 52-week high level -- on the BSE. On the NSE, shares of the company zoomed 19.97 per cent to end at Rs 169.05 per piece, its 52-week high as well as the highest trading permissible limit for the day. On the volume front, 13.72 lakh shares of the company were traded on the BSE and over 3 crore shares on the NSE during the day.