Block Deal Alert: Nomura Fund Grabs 59.70 Lakh Multibagger Genus Power Shares in Rs 207 Crore Investment

On Friday, a Nomura fund purchased over 59.70 lakh shares of the small-cap company Genus Power Infrastructures in a block deal. The shares were bought at a price of Rs 346.50 each, making the total investment around Rs 207 crore.

The buyers were represented by Nomura India Investment Fund Mother Fund, while the sellers were company promoters Seema Todi, Banwari Lal Todi, and Anand Todi. They sold 26 lakh, 40 lakh, and 19 lakh shares, respectively.

Genus Power’s stock closed at Rs 380.50 on the BSE, gaining Rs 17.75 or 4.89% compared to Thursday’s closing price. The stock has shown strong performance, delivering a 114% return over the past year, significantly outperforming the Nifty’s 27% return. In 2024 alone, the stock has risen by more than 60%, compared to the 14% increase in the Nifty 50 index.

For the recent quarter, Genus Power reported a standalone net profit of Rs 42.4 crore, a 120% increase compared to Rs 19.3 crore from the same period last year. The company’s revenue from operations grew by 57% year-on-year, reaching Rs 434 crore, up from Rs 276.4 crore.

The stock is trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 335 and Rs 277, respectively. Despite the recent price rise, the stock has shown relative stability with a 1-year beta of 0.5, indicating lower volatility. However, Genus Power shares are currently in an overbought condition, with a Money Flow Index (MFI) above 78. An MFI above 70 typically signals overbought conditions, while a number below 30 suggests oversold conditions