Surge in Demand: Shakti Pumps Bags ₹353 Crore MSEDC Order for 15,000 Solar Water Systems
Shakti Pumps has received a significant boost following the procurement of a major order from the Maharashtra State Electricity Distribution Company (MSEDC). The company secured a Letter of Empanelment to supply 15,000 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS).This strategic contract falls under the framework of the Magel Tyala Saur Krushi Pump Yojana. The order value is substantial at ₹353.89 crore, which includes GST. These solar water pumps are crucial for agricultural deployment across Maharashtra state.
Details of the MSEDC Order and Project Scope
The Empanelment covers diverse requirements including 3 HP, 5 HP, and 7.5 HP solar water pumps. The successful execution of this large-scale project is mandated within a tight timeline. Shakti Pumps must complete the installation and deployment of these systems within 60 days from receiving the Notice to Proceed (NTP).The order underscores the company's capability in providing robust solutions for sustainable irrigation. Securing such a high-value contract positions Shakti Pumps directly into the ongoing rural electrification drive across Maharashtra.
Stock Performance and Financial Snapshot
In the previous trading session, Shakti Pumps shares closed 0.03% higher at ₹574.40 per share. Despite the recent order, the company's stock performance over the past year has been volatile. The stock currently stands 39.5% below its one-year high but remains 25.7% above its one-year low.The company boasts a market capitalization of ₹7,088 crore. Historically, Shakti Pumps has registered a 52-week high of ₹949.95 and a 52-week low of ₹457. The stock price decline over the past year amounts to 39 percent.
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