The shares of Shakti Pumps jumped more than 13 percent on December 11 after the company announced that it has received an order from Maharashtra State Electricity Distribution Company (MSEDCL)


The shares of the industrial machinery-maker rose to Rs 624.75 apiece on Thursday, snapping an eight-session losing streak.

Shakti Pumps announced that it has received a letter of empanelment from the Maharashtra State Electricity Distribution Company for 16,025 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Yojana/PM Kusum B Scheme.

The company said that the total value of the 16,025 pumps stands at around Rs 443.78 crore, including GST. The said domestic order is scheduled to be completed within 60 days.

As part of the order, Shakti Pumps will design, manufacture, supply, transport, install, test and commission the off-grid DC Solar Photovoltaic Water Pumping Systems in Maharashtra.