Stock in Foux: Renewable Energy and Engineering Sector company Shakti Pumps (India) Limited has received a new order of Rs 374 crore. This order has been given by Maharashtra State Electricity Distribution Company Limited (MSEDCL). Under this, Shakti pumps will supply and installation of 34,720 off-grid solar water pumping systems. This work will be done under the government’s ‘Maje Tyala Solar Krishi Pump Scheme / PM-Kusum B Scheme’.
Strong demand and fast booking
According to Shakti Pumps, the recent installment consisted of 12,451 systems, whose value is Rs 347.41 crore. The entire stock was immediately booked by the farmers of Maharashtra. Earlier, the value of the first installment of 10,000 systems was around Rs 268.88 crore. That too was booked rapidly. In addition to both installments, 22,451 systems have been booked so far. The total order value has reached above Rs 616 crore.
Chairman Dinesh Patidar says that this project is capable of completing the project on time due to the company’s prolonged presence and strong track records in Maharashtra. He said, “We are committed to providing sustainable and energy-efficient water solutions to farmers, which will increase agricultural productivity.”
Shakti pumps shares
On Friday, Shakti Pump’s stock on NSE rose by 6.43% to close at Rs 861. The stock has come down 5.30% in the last 6 months. It has given a return of 19.96% in 1 year. At the same time, talking about the last 5 years, Shakti Pumps have given a multibagger return of 2,714%. Shakti pumps have a 51 week high of Rs 1,387.00 and low-level Rs 651.75.
What is the business of Shakti Pumps?
Shakti Pumps (India) Limited’s main business is to create and supply water solutions, motors and energy-infusions water solutions. The company provides solar energy -powered water pumps to farmers, which reduces the cost of irrigation in agriculture and decreased dependence on diesel or grid power.
The company, established in 1982, today exports to more than 100 countries and is considered to be India’s first five-star rated pump manufacturer.
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