With the benefit of hindsight, we can confidently say that Chokkalingam’s recommendation of Genus Power Infrastructures in February 2015 was/ is a no-brainer.
Chokkalingam spared no adjectives to express his admiration for Genus Power. He pointed out that Genus has the distinction of paying dividends for 13 consecutive years and that it has a very impressive business model and quality management. Chokka also pointed out that Genus had posted good results despite the tough environment it was operating in. He added that things would improve dramatically thanks to the Government’s initiatives towards the power and infra sector.
Genus is a “long-term multi-bagger” Chokka said with immense confidence in his voice.
Well, Chokkalingam deserves to be complimented because the stock was then at Rs. 27. Today, just nine months later, the stock stands tall at Rs. 48, registering an immense gain of 80%.
The best part is that Genus Power has now caught the attention of Hadrien Mendonca, the expert on technicals at IIFL. Hadrien claims that Genus Power had gone through a “death crossover” in March 2015 and that it has now formed an “Inverted Head and Shoulder breakout”.
The bottomline of the technicals mumbo jumbo is that “Electrifying gains are in the offing” for Genus Power claims Mendonca. His target price is Rs. 62, which is a hefty gain of 40% from the CMP.
So, lucky shareholders of Genus Power have to sit tight and enjoy the ride, thanks to the brilliant stock picking abilities of G. Chokkalingam and Hadrien Mendonca.
price has hit 26.25 on weekly avoid entry now wait smart money will exit
Last two quarterly results are not impressive. Infact degrowth was there. Not sure why stock price ran up. The current price seem to have accommodated all the future expansion & growth.