Shares of Shakti Pumps (India) Limited surged 6.86% to ₹893 in early trade on Wednesday after the company announced it had secured a significant ₹1,037 crore order from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The stock opened at ₹899, up around 7% from the previous close of ₹835.70, and touched an intraday high of ₹899 before paring some gains.
The order covers the supply, installation, testing, and commissioning of 34,720 standalone off-grid DC solar photovoltaic water pumping systems across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme. The Letter of Empanelment is valid for one year, with installation to be completed within 60 days of receiving the work order.
Chairman Dinesh Patidar said the deal significantly boosts Shakti Pumps’ order book and strengthens its leadership position in the solar pumps segment. He added that the company is actively participating in tenders across multiple states, leveraging its strong market presence and manufacturing capabilities.
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