This small cap stock rose up to 15% in the first half of Friday’s trading session after the company received an order from the Department of Agriculture, Uttar Pradesh worth Rs. 293 crore.
Share price of Shakti Pumps opened at Rs. 815 levels and gained up to 15% to reach its intra- day high of Rs. 903.75 per piece. The stock returned 11.85% in the last one month and 92.22% in the last six months.
On 15 Sep 2023, the company received an order worth Rs. 293 crore for 10,000 pumps under the PM- KUSUM III scheme from the Department of Agriculture, Uttar Pradesh. As per the contract the company is required to work on the supply, installation and commissioning of solar water pumping systems. The order is to be executed within 90 days from the date of issue of work order.
It has a market capitalisation of Rs. 1447.07 crore. As per its recent financials, the company recorded a revenue of Rs. 113.06 crore in Q1FY24 which is a fall of 61.5% from Rs. 182.66 crore in Q4FY23. Its net profit of Rs. 2.25 crore in Q4FY23 fell down by 55.5% to Rs. 1 crore. The company maintains a low debt to equity ratio of 0.27
Shakti Pumps India Limited is a business of manufacturing multiple kinds of pumps including the ones which are submersible, solar, pressure booster, agricultural and a few others. which are used for domestic, industrial and agricultural purposes. The company exports their pumps to almost 100 countries.
Written by Bhumika Khandelwal
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact news@tradebrains.in
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!