Shakti Pumps Share Price Falls Over 7% To Three-Month Low
Shakti Pumps (India) share price declined 7.98% to Rs 822 apiece, the lowest level since May 2. It was trading 6.26% lower at Rs 837.5 apiece as of 9:46 a.m.
Shakti Pumps (India) Ltd.'s share price fell to three-month low in Monday's session.
This decline came after the company said it has invested Rs 5 crore in arm Shakti EV Mobility. After this development, its consolidated investment in the firm stands at Rs 55 crore, subscribing to 50 lakh shares, the company said in an exchange filing on Saturday.
On Friday, the company reported an increase in its net profit for April- June period. Its topline and Ebitda both advanced in the first quarter.
Shakti Pumps Q1 Earnings Key Highlights (Consolidated, YoY)
Margin at 23.1% versus 23.9%
Ebitda rose 5.7% to Rs 144 crore versus Rs 136 crore
Revenue rose 9.7% to Rs 623 crore versus Rs 568 crore
Net profit rose 4.5% to Rs 96.8 crore versus Rs 92.7 crore
Shakti Pumps (India) share price declined 7.98% to Rs 822 apiece, the lowest level since May 2. It was trading 6.26% lower at Rs 837.5 apiece as of 9:46 a.m., as compared to 0.08% advance in the NSE Nifty 50 index.
The stock advanced 3.01% in 12 months, and 21.59% on year-to-date basis. Total traded volume so far in the day stood at 6.7 times its 30-day average. The relative strength index was at 29.88, which implied the stock is oversold.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 27.4%.
