Shakti Pumps: Lighting Up the Stock Market with a 9% Surge after a Rs.258 Crore Order

By -

Shakti Pumps (India) Limited: Energizing the Market with a 9% Surge after a Rs.258 Crore Order


Shakti Pumps (India) Limited, a key player in the renewable energy sector, witnessed a significant surge in its share prices on December 29, 2023. The company's shares climbed by 9.07% intraday to Rs 1093.95 apiece. This surge followed the announcement of a substantial order from the Haryana Renewable Energy Department (HAREDA).

Securing the Second Work Order Under KUSUM-3 Scheme

Shakti Pumps revealed that it has secured the second work order under the KUSUM‐3 scheme from HAREDA. This order involves the supply, installation, and commissioning of 6,408 solar water pumping systems. The total value of the work order stands at approximately Rs 258 crore, inclusive of GST. The order is expected to be fulfilled within 90 days from the issuance date.

Strategic Orders Enhancing Position in Renewable Energy Sector

Shakti Pumps' foray into renewable energy solutions has been marked by strategic orders, enhancing its position in the sector. In November, the Securities and Exchange Board of India (SEBI) granted an exemption to Shakti Pumps promoters for the transfer of shares to three different trusts. This move was made without invoking Regulations 3 and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The exemption was granted on the grounds that the proposed transaction would not alter the control of the management over Shakti Pumps, and promoters would maintain a 56.22% stake in the company.

Additionally, in November, the company received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The letter pertained to the supply of 50,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) pumps for the entire state of Maharashtra. This initiative falls under Component-B of the PM-KUSUM scheme (Phase-III).

Share Performance

Shakti Pumps' share touched a 52-week high of Rs 1,224.65 and a 52-week low of Rs 388.70 on October 20, 2023, and March 27, 2023, respectively. At 10:57 am, Shakti Pumps shares were trading 3.91% higher at Rs 1,042.10 apiece on the NSE.

With these strategic moves and orders, Shakti Pumps (India) Limited continues to strengthen its position in the renewable energy sector, contributing to a sustainable future.

Conclusion

Shakti Pumps (India) Limited has demonstrated a strong performance in the renewable energy sector, marked by strategic orders and significant share price surges. The company's recent work order from HAREDA under the KUSUM-3 scheme and the Letter of Empanelment from MSEDCL are notable milestones that enhance its position in the sector. The exemption granted by SEBI further solidifies the management's control over the company. These developments, coupled with a robust share performance, underscore Shakti Pumps' commitment to contributing to a sustainable future.

Disclaimer

This blog post is for informational purposes only and should not be taken as investment advice. The information provided herein is based on the data available at the time of writing and is subject to change without notice. Readers are advised to do their own research and consult with a professional financial advisor before making any investment decisions. The author and the publisher disclaim any liability in connection with the use of this information. All investments involve risk, including the loss of principal. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer or company.

Keywords : Shakti Pumps (India) Limited, Share Prices, Haryana Renewable Energy Department (HAREDA), KUSUM‐3 Scheme, Solar Water Pumping Systems, Work Order, Securities and Exchange Board of India (SEBI), Maharashtra State Electricity Distribution Company Limited (MSEDCL), Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS), PM-KUSUM Scheme (Phase-III), 52-Week High, 52-Week Low, NSE.

Comments

Post a Comment

Popular posts from this blog

Deccan Gold Mines Up 150% in a Year, Makes Major Lithium Move in Mozambique

By -
Image
The country's only listed gold exploration and mining company Deccan Gold Mines Limited (DGML) acquired majority stake in 5 lithium blocks in Mozambique, Africa  Deccan Gold Mines Limited (DGML), India's sole listed gold exploration and mining company, has recently made a significant move that has caught the attention of investors worldwide. The company has acquired a majority stake in five lithium blocks in Mozambique, Africa, positioning itself within the globally recognized Alto Ligonha pegmatite belt, known for its abundant reserves of lithium-cesium-tantalum (LCT) pegmatites. {jistoc} $title={Table of Contents} A Strategic Acquisition This acquisition is crucial for the mining of lithium, tantalum, and beryllium. The critical mineral concession block has been procured through Deccan Gold FZCO, a wholly-owned subsidiary of DGML. DGFZCO will hold a majority ownership stake of 51% in DGMOZ, with the potential for this ownership to increase to 70% in the near...
Read more

Small Cap Gem: Sakuma Exports Doubles in 2024, Bonus Share Proposal on July 1st?

By -
Image
Sakuma Exports: A Smallcap Stock with Big Returns in 2024 In the world of stock trading, smallcap stocks often go unnoticed. However, one such stock has been making waves in the Indian stock market - Sakuma Exports Ltd. This company, engaged in the buying, processing, marketing, exporting, and importing of agricultural products, has seen its share price double in the calendar year 2024. {jistoc} $title={Table of Contents} A Stellar Performance As of Thursday, June 20, the Sakuma Exports stock price has recorded a nearly 100% year-to-date gain , hitting the day’s high of ₹37.86 apiece on the NSE. This impressive performance is not a sudden phenomenon but the result of a strong run over the past couple of months. The company's shares have been on a steady upward trajectory, reflecting the positive sentiment among investors. The surge in the stock price is a testament to the company's robust business model and its ability to deliver consistent growth. Bonus Issue ...
Read more

Simple Investing: It's Not Rocket Science (But It Takes More Than Luck)

By -
Image
Successful Investing: Simple, But Not Easy Disclaimer:  This blog post is for informational purposes only and should not be taken as financial advice. Always do your own research and consider seeking advice from a certified financial advisor before making any investment decisions. {jistoc} $title={Table of Contents} The Myth of Easy Wealth The bull market of the 1990s created a myth that the stock market was essentially a high-return savings account. This belief was fueled by the ease of access to financial information and the ability to trade stocks online. However, as many investors discovered when the bubble burst, if something looks too good to be true, it usually is. Investing requires more than just opening an online account and watching financial news. It requires a deep understanding of the market, the ability to analyze and interpret financial data, and the discipline to stick to your investment strategy even when the market is volatile. It also requires...
Read more