Shakti Pump stock hits an all-time high after Rs 1,603 crore order boost

Shakti Pumps Share Price: Shares of Shakti Pumps hit an all-time of Rs 1,108.35 and the upper limit of 20 per cent on BSE on Thursday (October 19)  after the company received an order of Rs 1603 crore from Maharashtra Electricity Distribution Company Limited (MSEDCL).

The share that opened at Rs 951.85 on Thursday after previous close of Rs 923.65 took a little over an hour on BSE to hit the all-time high. The stock ended the day at the same price. 

"The company has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL), for 50,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) pumps for the entire state of Maharashtra under Component-B of PM-KUSUM scheme (Phase-III). The total value of the 50,000 pumps is around Rs 1,603 crores (inclusive of GST), which is to be executed over 24 months," Shakti Pumps said in a BSE filing on Thursday.

The company's shares have skyrocketed to 149.01 per cent in the last six months, while their year-to-date jump has been 173.19 per cent.

The stock has gained 129.59 per cent in the last one year.

It has considerably outperformed the benchmark Nifty 50, which has grown 11.35 in the six-month period, 7.84 per cent year to date, and 11.73 per cent in the one year, respectively.