Shakti Pumps (India) share price added 8 percent in the opening trade on July 6 following the company received an order for supply of Solar Photovoltaic Water Pumping Systems.
At 09:32am, Shakti Pumps (India) was quoting at Rs 619.80, up Rs 45.40, or 7.90 percent, on the BSE.
The company received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company (MSEDC) for the supply of 15,000 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Yojana.
The order, valued at ₹353.89 crore (inclusive of GST), covers 3 HP, 5 HP and 7.5 HP solar water pumps for deployment across Maharashtra.
The project is scheduled to be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP).
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In the previous trading session, Shakti Pumps shares ended 0.03% higher at ₹574.40. The stock has touched a 52-week high of ₹949.95 and a 52-week low of ₹457, and is currently trading 39.5% below its one-year high and 25.7% above its one-year low. The company's market capitalisation stands at ₹7,088 crore.
The share price declined 39 percent in the last one-year.