Shakti Pumps (India) share price gained more than 4 percent in the opening trade on September 15 following the order win worth Rs 347 crore from MSEDC for supply of solar water pumps.
At 09:21am, Shakti Pumps (India) was quoting at Rs 895.95, up Rs 37.60, or 4.38 percent, on the BSE.
The company is going supply and install 34,720 OffGrid DC Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B by Maharashtra State Electricity Distribution Co (MSEDC).
On August 27, MSEDCL opened its portal for the first tranche of 10,000 SPWPS, which were fully booked with total value of approximately Rs 268.88 crore (inclusive of GST).
In a second tranche 12,451 SPWPS were selected by farmers with total value of approximately Rs 347.41 crore (inclusive of GST).
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In the month of August, the company received a Letter of Empanelment from MSEDCL for 34,720 standalone SPWPS pumps collectively worth ~ Rs 1037 crores for the entire state of Maharashtra.
The Letter of Empanelment is valid for up to one year and the installation is to be completed within 60 days from the date of issuance of NTP / work order.
The share touched a 52-week high of Rs 1,398.00 and a 52-week low of Rs 652.50 on 09 January, 2025 and 30 September, 2024, respectively.
Currently, the stock is trading 35.91 percent below its 52-week high and 37.31 percent above its 52-week low.
The market capitalisation of the company stands at Rs 11,055.84 crore.
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