Solar Pump stock engaged in the manufacturing and selling of a wide range of pumps, motors, spare parts, and EV components, in focus upon declaring record date for the bonus issue of equity shares in the ratio of 5:1.
Price Action
With a market capitalization of Rs. 9,360 Crores, the shares of Shakti Pumps (India) Limited closed at Rs. 4,672 per equity share, down 0.17 percent from its previous day’s close price of Rs. 4,680.15.
What Happened
The board of directors of Shakti Pumps (India) Limited had earlier considered and approved issuing bonus shares of the company in the ratio of 5:1, where 5 equity shares of the company with a face value of Rs. 10 will be issued to every one equity share held by the eligible shareholders as on the record date.
Following this Shakti Pumps (India) Limited has considered and fixed November 25, 2024, as the record date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company.
Recent Work Order
Recently Shakti Pumps (India) Limited had received a work order from the Haryana Renewable Energy Department for the supply, Installation, and commissioning of 3,174 solar water pumping systems under Component B of the PM-KUSUM scheme for a consideration of Rs. 116.36 Crores.
About the Company
Shakti Pumps (India) Limited is engaged in the manufacturing and selling of a wide range of pumps, motors, and spare parts. Its products include submersible pumps, pressure booster pumps, open well pumps, and many more with solar-powered pumps being its core business driver.
Shakti Pumps (India) Limited has a pan-India presence with 500+ dealers, 1200+ product variants, and 400+ service centers. It holds a dominant position with more than ~25 percent market Share in the domestic solar Pump Market under the PM KUSUM scheme. As of September 30, 2024, it has a strong order book of ~Rs. 1,800 Crores.
Shakti Pumps (India) Limited has entered into Electric Vehicle segments through its wholly-owned subsidiary Shakti EV Mobility engaged in the manufacturing and sale of EV motors, charging stations, battery management systems, electric control panels, smart electric control panels, VFDs, and other items
Written by: Bharath K.S
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