On Thursday this small-cap company gains up to 3% after the board approved making an investment of 114.29 Cr in its subsidiary. The stock is trading 5.9% away from the 52-week high and 12% & 38% above the 50-day and 200-day moving averages respectively.
Shakti Pumps (India) Limited
The company has a market capitalisation of Rs. 1,671 Cr, making it a small-cap company. On Thursday the stock rose more than 3%, Currently, shares are trading 2.1% up at Rs. 909 on NSE.
According to the NSE filing, the board of Shakti Pumps (India) Limited approved to make the investment of Rs. 114.29 Cr in the wholly owned subsidiary i.e., Shakti EV Mobility Pvt Limited, in one or more tranches, in the next five years.
The stock has given 109% returns in six months, therefore making an investment of 1 lakh now would be worth Rs. 2.09 lakhs.
The company’s total revenue declined by % from Rs. Cr in Q1 FY23 to Rs. Cr in Q1 FY24 and for the same period, net profit declined by % from Rs. Cr to Rs. Cr.
Shakti Pumps (India) Ltd is a company engaged in the manufacturing business sector. It manufactures pumps and motors. The company provides a variety of product variants that are used in groundwater supply, irrigation, pressure boosting, industrial applications, fire-fighting systems, and pumping applications for the household and hospitality sectors.
Written by Sheshadri N
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