Home Blogs Shakti Pumps Soars Over 14% as it Secures ₹293 Crore Order from UP Government

Shakti Pumps Soars Over 14% as it Secures ₹293 Crore Order from UP Government

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Shakti Pumps witnessed a remarkable surge in its share price, soaring over 14% in early trade last Friday. The surge came on the heels of the company’s announcement of securing a substantial order worth ₹293 crore. Shakti Pumps shares surged as high as ₹902.65 apiece on the BSE, reflecting investor enthusiasm for the company’s latest achievement.

The company revealed that it had been awarded a significant order by the Uttar Pradesh government, involving the procurement of 10,000 pumps. In a regulatory filing, Shakti Pumps India stated, “Shakti Pumps (India) Limited has received Letter of Award under PM-KUSUM III scheme under component-B from Department of Agriculture, Uttar Pradesh for 10,000 pumps.” The total value of this work order amounts to approximately ₹293 crore, inclusive of GST.

This substantial order pertains to the supply, installation, and commissioning of solar water pumping systems. The stipulated time frame for the execution of this order is 90 days, emphasizing the company’s commitment to prompt delivery and service.

Shakti Pumps has consistently delivered impressive returns to its investors. Over the past three months, the company’s share price has surged by more than 51%, and year-to-date, it has witnessed remarkable growth of over 118%. Looking further back, Shakti Pumps shares have recorded an extraordinary rally, yielding returns of more than 378% over the last three years.

The company’s recent success in securing this substantial order underscores its growing prominence in the renewable energy sector and its ability to meet the evolving demands of sustainable energy solutions. Shakti Pumps continues to make significant strides in contributing to the renewable energy landscape in India and is well-positioned for future growth and success.

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Abel Mathew

Marketing Enthusiast | Product Marketing at smallcase | Cinephile ----The content in this article is purely the author’s personal opinion and is for informational and educational purposes only. It should not be construed as professional financial advice and nor to be construed as an offer to buy /sell or the solicitation of an offer to buy / sell any security or financial products. The views and opinions stated in the content belong to the author. Smallcase Technologies Private Limited does not uphold nor promote any of the views / opinions.

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