Shakti Pumps shares surge 5% on bagging Rs 114 cr work order from Maharashtra Energy Department Agency
Shares of
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.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
'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
Live Events
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%.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
18 minutes ago
- Hindustan Times
Incessant rainfall cripples Mangaluru and surrounding area, coastal Karnataka on red alert
Life in Karnataka's Mangaluru came to a grinding halt on Saturday as torrential rains lashed coastal Karnataka, prompting the India Meteorological Department (IMD) to issue a red alert for Dakshina Kannada and surrounding districts. The intense downpour, which began on Saturday afternoon, led to widespread waterlogging, severe traffic snarls, and flooding of low-lying areas. Also Read - Mangaluru survivors recount 2010 plane crash tragedy amid recent Air India mishap Several key roads in Mangaluru were submerged, including stretches beneath the busy Pumpwell flyover, where traffic was thrown out of gear. In one incident, a public transport bus stalled mid-route due to flooding. Passengers and local residents were seen wading through knee-deep water to help push the vehicle to safety. Areas such as Car Street, Lower Bendur, Padil, Kottara, and other flood-prone localities bore the brunt of the downpour. The Padil railway underpass was rendered unusable after rainwater accumulated, cutting off traffic flow. Car Street and nearby residential colonies also reported water entering homes, raising concerns about urban drainage preparedness. While IMD had been forecasting heavy rains throughout the week with limited rainfall observed until Friday, Saturday's sudden and intense spell has caught many off guard. The department has warned that the red alert will remain in place until the morning of June 16, as weather models continue to indicate the likelihood of more intense showers and thunderstorms across the coastal belt. Also Read - 'They solve Bengaluru's traffic crisis': Chorus grows online as Karnataka bans bike taxis Authorities are urging residents in vulnerable areas to stay indoors and avoid venturing out unless necessary. Emergency services are on standby, and civic agencies have begun pumping out water from inundated zones. This surge in rainfall is part of a broader monsoonal pattern affecting the western coast of India, with coastal Karnataka frequently witnessing flash floods during peak monsoon activity.
NDTV
22 minutes ago
- NDTV
FIR Against Supertech, Its Promoter For Defrauding IDBI Bank Of Rs 126.07 Crore
New Delhi: The CBI has registered an FIR against Noida-based construction firm Supertech Limited and its promoter R K Arora among others for allegedly defrauding IDBI Bank of Rs 126.07 crore, officials said Saturday. Arora has been named in the FIR alongside whole-time directors Sangita Arora, Mohit Arora, Parul Arora, Vikas Kansal, Pradeep Kumar, Anil Kumar Sharma, and Anil Kumar Jain, in addition to the Noida-based company, they said. On Saturday, the CBI conducted coordinated search operations at five locations linked to the accused," including official and residential premises in Noida and Ghaziabad," in connection with the case. During the raids, agency officials seized cash amounting to Rs 28.5 lakh, CBI's spokesperson said in a statement. The case was initiated following a complaint from IDBI Bank, which alleged that the accused had conspired to misappropriate sanctioned loan funds through fraudulent means. According to the FIR, the bank alleged that the company and its directors submitted forged documents to secure credit facilities under false pretences. The loan account was subsequently declared a wilful default and categorised as fraudulent, allegedly resulting in wrongful losses totalling Rs 126.07 crore to IDBI Bank Ltd., the CBI said.
Deccan Herald
23 minutes ago
- Deccan Herald
Ahmedabad plane crash: Air India to provide Rs 25 lakh interim payment to kin of deceased, survivors
This interim payment is in addition to the Rs 1 crore compensation already announced by the parent company, Tata Sons, Air India said in a statement.
