Shakti Pumps zooms 20%, hits 52-week high; here is why

Shakti Pumps share price: Shares of Shakti Pumps hit their upper circuit limit of 20 per cent to hit a 52-week high of Rs 861.90 apiece on the BSE on Wednesday (August 30) after the company, in its regulatory filing, said that it received its first work order under the KUSUM-3 scheme from the Haryana Renewable Energy Department (HAREDA) for 7,781 pumps. The total amount of the work order is around Rs 358 crore (inclusive of GST), it added. On the NSE, the stock's 52-week high level was Rs 861.35.

Shakti Pumps is one of the leading manufacturers of energy-efficient pumps and motors. Since October 2011, the stock price of Shakti Pumps has risen nearly 1,800 per cent (including today's rally), Trendlyne data show.

India Industrial Pump Market Outlook (2023–2028)

The industrial pump market in India is expected to grow at a compound annual growth rate (CAGR) of more than 4.5 per cent during the forecast period, according to a report by Mordor Intelligence.

The Indian industrial pump market is already making sustained gains and is expected to flourish over the forecast period with rapid population growth, urbanisation, and industrialisation, which is increasing the demand for industrial pumps, the report adds.