Small Cap Stock Surges 20% On Securing Order Worth Rs 358 Cr, Scrip Up 100.65% In 6 Months

Industrial sector small cap company Shares of Shakti Pumps (India) Ltd. on Wednesday hit a 52-month high after the company informed that it has secured an order worth Rs 358 Crore from the Haryana government. The order is for the supply of 7,781 pumps to the Haryana Renewable Energy Department under the Kusum-3 scheme.

"Shakti Pumps (India) Limited Received its first work order under the KUSUM-3 scheme from Haryana Renewable Energy Department (HAREDA) for 7,781 pumps. The total amount of the work order is for around Rs. 358 Crores (inclusive of GST)," the company said in a filing.

The shares surged 20%, locked in the upper circuit at Rs 861.90 per share on the BSE. The stock's 52-week low is Rs 380.15 per share.

The stock gained 21.14% in 1 week. It gave 56.68% robust return in 3 months and 100.65% in 6 months. It gave 73.07% positive return in 1 year. It gave 333.33% strong return in 3 years. In 5 years. It gave 101.10% positive return.

Shakti Pumps (India) Limited is a pioneer in the manufacturing of energy-efficient pumps and motors. The company is at the forefront of providing a variety of renewable energy solutions, primarily for the agriculture sector. The company has over 1200 product portfolios, which have been indigenously developed by their Research & Development department. Shakti Pumps has a sprawling state-of-the-art manufacturing facility with an installed capacity of 5 lakh pumps per annum which is strategically situated in central India at Pithampur in the state of Madhya Pradesh.