Shakti Pumps India Share Price: A Thriving Stock Story

In the dynamic world of the stock market, several stocks have been making waves, offering investors substantial returns. Recently, Shakti Pumps India Limited, a company that specializes in manufacturing pumps, has garnered significant attention by securing substantial orders from two state governments. This influx of orders has caused the company’s share price to surge, delivering impressive returns to investors. In this article, we will delve into the Shakti Pumps India share price phenomenon, exploring the factors behind its remarkable performance.

The Power of Government Orders

Shakti Pumps India Limited achieved a remarkable feat by clinching substantial orders from the governments of Uttar Pradesh and Haryana. These orders are in alignment with the Prime Minister Kusum Yojana, a government scheme aimed at promoting renewable energy in rural areas. The scheme involves the installation of solar pumps and grid-connected solar power plants, for which Shakti Pumps India has become a key supplier. These government orders have been a game-changer for the company, propelling its share price to new heights.

Doubling Investor’s Wealth in Just 6 Months

One of the most astounding aspects of Shakti Pumps India’s journey is the rapid increase in its share price. In a mere six months, the company’s shares have doubled in value, delivering remarkable returns to its investors. This meteoric rise can be attributed to the confidence investors have in the company’s future prospects, thanks to the surge in orders and the growing demand for renewable energy solutions.

Market Cap on the Rise

Following the influx of government orders, Shakti Pumps India Limited has witnessed a significant increase in its market capitalization. This increase reflects the growing confidence of investors in the company’s ability to capitalize on the renewable energy sector’s potential. The company’s expanded market cap not only benefits its shareholders but also positions Shakti Pumps India as a key player in the renewable energy market.

Current Market Scenario

On the occasion of Ganesh Chaturthi, the stock market witnessed subdued trading activity, including Shakti Pumps India’s shares. At the close of the market on Monday, the company’s shares were priced at ₹856.00. The previous day, the company recorded a trading volume of 1.34 lakh shares, with a total turnover of ₹11.72 crore. While the market may have been quiet on Ganesh Chaturthi, the overall trajectory of Shakti Pumps India’s share price remains highly positive.

Order of 293 crores has been received

Talking about the market cap of the company, it is about Rs 1057 crore. Shakti Pumps Limited has received a contract to supply 3,10 pumps from the Agriculture Department of the UP government under the Pradhan Mantri Kusum 000 scheme. This work order received from the UP government is about Rs 293 crore.

Big order received from UP government

The company has received an order under the PM-KUSUM III scheme from the Agriculture Department of Uttar Pradesh. According to the contract, the company has to work on the supply, installation and commissioning of solar water pumping systems. The company has to execute the order within 90 days from the date of issue of the work order.

Order also received from Haryana government

Apart from this, shakti pump has also received an order from the Haryana government under the Kusum-3 scheme. An order for about 7781 pumps has been received from the Renewable Energy Department. The value of this work order is about Rs 358 crore.

How much is the RSI of the stock?

The stock’s relative strength index (RSI) is at 53.2, indicating that it is neither trading in the overbought nor oversold zone. Shares of Shakti Pumps are trading above the 5-day, 10-day, 20-day, 50-day, 100-day and 200-day moving averages.

How much is the company’s revenue?

Shakti Pump has recently released the results of the first quarter of the current financial year. Talking about the company’s revenue in the first quarter, it has been around Rs 113 crore. At the same time, the working profit of the company has been Rs 8.46 crore.

What is the company’s business?

Shakti Pumps India Limited (Shakti Pumps India Limited) manufactures many types of pumps. This includes submersible, solar, pressure boosters, agricultural and many other types of pumps, which are used for domestic, industrial and commercial purposes. This company exports its pumps to about 100 countries.

Conclusion

In conclusion, Shakti Pumps India Limited’s remarkable performance in the stock market is a testament to its ability to secure significant government orders and its potential in the renewable energy sector. The company’s shares have doubled in value within a short span, attracting investors and boosting its market capitalization. As the demand for renewable energy solutions continues to grow, Shakti Pumps India appears poised for further success.