On Wednesday this small-cap stock jumped ~17% after receiving an order worth Rs. 358 Cr. This stock has delivered 96% returns in six months and 70% in one year.
Currently, the company shares are trading above the both 50-day and 200-day moving averages. Strong and rising volume that is higher than typical compared to the prior day and week is keeping the stock price high.
A small-cap company, Shakti Pumps (India) Ltd. has a market value of Rs. 1,550 Cr. On Wednesday stock opened at Rs. 717.50 and at 12.30 p.m. shares trading 16.33% up at Rs. 835.
According to the company filing, the company received its first work order under KUSUMA-3 scheme from the Haryana Renewable Energy Department (HAREDA) for 7,781 pumps. The total amount of this work order is worth around Rs. 358 Cr.
As per the company filing, total consolidated revenue declined by 55% YoY from Rs. 255.55 Cr in Q1 FY23 to Rs. 113.60 Cr in Q1 FY24 and the net profit declined to Rs. 0.99 Cr in Q1 FY24 against 8.73 Cr in Q1 FY24.
As per the latest shareholding information, Promoters hold 56.22%, the Public hold 43.23%, DIIs hold 0.16% and FIIs hold 0.39% stake in this company.
Shakti Pumps (India) Ltd. is a company that manufactures motors and pumps. It offers a variety of product options that are used in fire-fighting systems, irrigation, home and commercial pumping, pressure-boosting, industrial applications, and groundwater delivery.
Written by Sheshadri N
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