Shakti Pumps India Ltd.'s shares jumped 11% after the company announced a major order from Maharashtra State Electricity Distribution Company Ltd. for the supply and installation of 10,000 off-grid solar photovoltaic water pumping systems. The order, valued at Rs 235.92 crore including GST, covers pumps across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana.
The stock opened at Rs 506.9 apiece and then jumped to a high of Rs 524.45 on NSE compared to its previous close at Rs 467.8, currently trading at Rs 508.15 apiece.
The order strengthens Shakti Pumps' presence in Maharashtra's solar-powered agricultural pumping segment. The contract involves 10,000 systems, giving the company a sizeable execution opportunity under a state-level agricultural solarisation programme.
Rs 235.92 Crore Order From MSEDCL
According to the company's exchange filing, MSEDCL is the domestic entity awarding the contract. The scope covers the design, manufacture, supply, transportation, installation, testing, and commissioning of off-grid solar photovoltaic water pumping systems.
The basic value of the work order stands at Rs 216.64 crore, and the total value rises to Rs 235.92 crore after including GST. Shakti Pumps has committed to completing the work within 60 days from the issuance of the work order.
Shakti Pumps Share Price Movement
The stock gained a little over 9% in the past week, however, it remained down by 37% over the past one year.
In 2026 so far, the stock has shed a little over 30.3%, while the benchmark index Nifty Total marketcap declined only 3.27%.
Around 9:44 am today, the stock was trading at Rs 508.5 apiece on the NSE, gaining around 8.83% from its previous close, at a price-to-earnings multiple of 27.19 times, and a market cap of Rs 6,277.87 crore.
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