Shakti Pumps Stock Jumps On Rs 258-Crore Order From Haryana Goverment

Shakti Pumps (India) Ltd. shares rose on Friday after it won an order worth Rs 258 crore from the Haryana Renewable Energy Department.

The order involves supply, installation and commissioning of 6,408 solar water pumping systems, an exchange filing said. The order has to be completed within 90 days from the date of issue of work order.

This is the second work order the company has won under the KUSUM-3 scheme from HAREDA.

Shares of the company rose as much as 9.08%, the highest since Nov. 15, before paring gains to trade 3.70% higher at 10:07 a.m. This compares to a 0.35% decline in the NSE Nifty 50.

The stock has risen 154.59% year-to-date. Total traded volume so far in the day stood at 28 times its 30-day average. The relative strength index was at 59.