Small Cap Stock Surges 9.30% On Receiving LOA Worth Rs 293 Cr Under PM- KUSUM III Scheme

Shakti Pumps (India) Limited's Shares surged nearly 15% on Friday to hit the day's high at Rs 902.65 after the company received a letter of award (LOA) worth Rs 293 Crore. The LOA company received from the Department of Agriculture, Uttar Pradesh for 10,000 pumps.

The company stated in the regulatory filing that the LOA it received is under the PM - KUSUM III scheme under component-B from the Department of Agriculture, Uttar Pradesh for 10,000 pumps.

"Shakti Pumps (India) Limited has received Letter of Award under PM- KUSUM III scheme under component-B from Department of Agriculture, Uttar Pradesh for 10,000 pumps. The total amount of the work order is for around Rs. 293 Crores (inclusive of GST)," the company said in a filing to the stock exchange.

S.No.	Particulars	Details
1	Name of the entity awarding the order(s)/contract(s)	Department of Agriculture, Uttar Pradesh
2	Whether order(s) / contract(s) have been awarded by domestic/ international entity	Domestic
3	Significant terms and conditions of order(s)/contract(s) awarded, in brief	Supply, Installation and commissioning of solar water pumping systems.
4	Time period by which the order(s)/contract(s) is to be executed	Within 90 days period from the date of issue of work order.
5	Whether the promoter/ promoter group /group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof;	No
6	Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at "arm's length	No

The shares of Shakti Pumps closed 9.30% higher at Rs 860.55 apiece on the BSE with an intraday high of Rs 902.65 and an intraday low of Rs 801.90, respectively. The market cap of the stock is Rs 1,581.70 Crore.

The stock gained 4.73% in the past 1 week. It gained 25.50% in the past 1 month. It gave 109.74% multibagger return in the past 6 months. It gave 54.83% positive return in 1 year. It gave 359.82% positive return in the past 3 years and 104.55% positive return in the past 5 years.

Its 52-week high is Rs 927.40 apiece and 52-week low is Rs 380.15 apiece.

Shakti Pumps (India) Ltd. is an industrial sector small-cap company. The company is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications.