Shakti Pumps shares surge 5% on bagging Rs 114 cr work order from Maharashtra Energy Department Agency
Shakti Pumps
(India) surged 4.6% to hit an intraday high of Rs 1,010 on the BSE on Thursday, following the announcement of a major order worth Rs 114.58 crore (inclusive of GST) from the
Maharashtra Energy Department Agency
(
MEDA
).
The company has received a Letter of Award from MEDA for the supply and installation of 4,500 off-grid
Solar Photovoltaic Water Pumping Systems
(SPWPS) under Component-B of the
PM-KUSUM scheme
. The systems will be deployed across various locations in Maharashtra.
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'Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III thereof, we would like to inform you that the Shakti Pumps (India) Limited has received Letter of Award from Maharashtra Energy Department Agency (MEDA) for 4500 Off-grid Solar Photovoltaic Water Pumping System (SPWPS) at various locations across the State of Maharashtra under MNRE Component-B of
PM-KUSUM
scheme. The total amount of the
work order
is for around Rs. 114.58 Crores (inclusive of GST),' the company informed via a regulatory filing.
According to the exchange filing, the scope of the contract includes design, manufacture, supply, transport, installation, testing, and commissioning, with execution scheduled to be completed within 90 days from the date of issuance of the work order.
Also read:
How 50 Bajaj Finance shares will turn into 500 by June 27. Explained
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Shakti Pumps share price performance
Over the past one year, the stock has surged 132.01%, while the year-to-date (YTD) return shows a decline of 10.10%. In the last 6 months, the stock has gained 18.94%, whereas over the 3-month period, it has risen by 11.48%. For the most recent month, the stock recorded a gain of 17.76%.
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