Shakti Pumps Shares Jump 4% After Rs 170 Crore MP Urja Order

Shares of Shakti Pumps (India) Ltd rallied 4% to hit a day’s high of Rs 736.70 on 31st December after the company announced on Wednesday (31st December) that it had received a new work order worth Rs 170.25 crore, including GST, from Madhya Pradesh Urja Vikas Nigam Limited for the supply of 4,840 standalone off-grid DC solar photovoltaic water pumping systems across the state.

In an exchange filing, Shakti Pumps said the order falls under Component-B of the PM-KUSUM scheme. It will be executed within 120 days. The contract covers the design, manufacture, supply, transportation, installation, testing, and commissioning of the solar water pumping systems. The base value of the order is Rs 156.34 crore. It rises to Rs 170.25 crore including GST.

This is Shakti Pumps’ third order under the PM-KUSUM scheme this month. It follows earlier wins of Rs 356.77 crore and Rs 444 crore. Both are for supplying and installing off-grid DC solar water pumping systems in Maharashtra.

The latest order strengthens the company’s presence in government-led solar and irrigation projects. Especially under the PM-KUSUM program, which promotes solar-powered agricultural infrastructure.

Earlier, on 12th December, the company had announced two more orders — Rs 24 crore from the Jharkhand Renewable Energy Development Agency. Additionally, Rs 71.25 crore from Madhya Pradesh Urja Vikas Nigam Ltd.

At 12:20 PM, shares of Shakti Pumps were trading 3.81% higher at Rs 726.50 on NSE.

Tradz by EquityPandit leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!

The post Shakti Pumps Shares Jump 4% After Rs 170 Crore MP Urja Order appeared first on Equitypandit.