Introduction:
Leading pump manufacturer has secured a significant order from Maharashtra State Electricity Distribution Company Limited for supplying 25,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems. The ₹754.30 crore project aims to promote sustainable agriculture across the state.
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Share price movement of Shakti Pumps:
On December 11, 2024, Shakti Pumps (India) Ltd opened at ₹777.55, up 3.09% from its previous close of ₹780.20. The stock reached a high of ₹819.20 and a low of ₹776.00. By 4:00 PM, it traded at ₹804.30, with a market cap of ₹9,668.54 crore.
Shakti Pumps secures solar order:
Shakti Pumps (India) Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited for the supply of 25,000 standalone Off-Grid DC Solar Photovoltaic Water Pumping Systems under the Magel Tyala Saur Krushi Pump Scheme.
The total value of the order is approximately ₹754.30 crores, including GST. The project is set to be completed within 60 days of receiving the work order, further boosting the company’s presence in renewable energy solutions.
This significant order underscores Shakti Pumps’ commitment to promoting sustainable agriculture in Maharashtra while expanding its footprint in the solar water pumping sector. The announcement is in line with SEBI’s regulations, ensuring transparency in corporate disclosures.
Recent news on Shakti Pumps:
As of November 15, 2024, Shakti Pumps declared a bonus issue, offering up to 5 free shares for every 1 existing share. The smallcap company, engaged in compressors, pumps, and diesel engines, has emerged as a 2024 multibagger with nearly 340% gains.
Ace investor holding in Shakti Pumps:
Ramesh Chimanlal Shah
Ramesh Chimanlal Shah holds a 2.53% stake in Shakti Pumps, owning 3,036,229 shares valued at ₹43.8 crore. His investment underscores confidence in the company’s growth and performance in the pumps and renewable energy sectors.
Snehal Bhupendra Shah
Snehal Bhupendra Shah holds a 1.86% stake in Shakti Pumps, owning 2,234,832 shares valued at ₹30.4 crore. This investment highlights his confidence in the company’s performance and its potential in the pumps and renewable energy sectors.
Stock performance of Shakti Pumps for Period of 1 week, 6 months and 1 year:
Shakti Pumps has shown strong performance, with a 4.53% return over the past week, 80.1% over six months, and an impressive 388% return over the last year, reflecting significant growth and investor confidence in the company.
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Shareholding pattern of Shakti Pumps:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 51.60% | 51.60% | 51.60% |
| FII | 3.40% | 2.30% | 0.80% |
| DII | 6.80% | 6.90% | 8.70% |
| Public | 38.30% | 39.30% | 39.00% |
About Shakti Pumps:
Shakti Pumps (NSE: SHAKTIPUMP) manufactures a wide range of pumps and motors, offering advanced water pumping solutions for irrigation, domestic, commercial, and industrial applications. Its “Shakti” brand is recognized both domestically and internationally for quality.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
