{"id":116396,"date":"2023-12-29T13:51:40","date_gmt":"2023-12-29T08:21:40","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=116396"},"modified":"2023-12-29T13:51:46","modified_gmt":"2023-12-29T08:21:46","slug":"stock-jumps-up-to-8-after-receiving-an-order-from-haryana-renewable-energy-dept-worth-258-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-up-to-8-after-receiving-an-order-from-haryana-renewable-energy-dept-worth-258-cr\/","title":{"rendered":"Stock jumps up to 8% after receiving an order from Haryana Renewable Energy Dept worth \u20b9 258 Cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-54628380\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this pumps and motors manufacturing company surged up to 8 percent on Friday\u2019s trading session after the company received an order worth Rs. 258 crores from Haryana Renewable Energy Department. The shares have delivered a multibagger return of 157 percent to its shareholders on a YTD basis.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2889826037\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalisation of Rs. 1,917 crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SHAKTIPUMP\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Shakti Pumps (India) Ltd<\/a><\/strong> started Friday\u2019s trading session on a higher note at Rs. 1,020. The shares hit a high of Rs. 1,093, gaining around 6 percent and are currently trading at Rs. 1,045.20 apiece.\u00a0<\/p><p>Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had secured another order from the Haryana Renewable Energy Department (HAREDA) under the KUSUM\u20103 scheme to supply, install and commission 6,408 solar water pumping systems.&nbsp;<\/p><p>The total amount of the work order is for around Rs. 258 crores. Furthermore, the orders are to be supplied within 90 days from the date of issue of the work order.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4256328000\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Earlier, this year, the company received an order from the Haryana Renewable Energy Department to supply 7,781 pumps worth Rs. 358 crores.&nbsp;<\/p><p>Coming onto the company\u2019s financial statement, the revenue zoomed by 35 percent from Rs. 113.02 crores in the June quarter to Rs. 152.78 crores in the September quarter. In addition, the net profits increased from Rs. 1 crore to Rs. 5.86 crores during the same timeframe.&nbsp;<\/p><p>As of FY23, the company had an order book of Rs. 900 crores. In addition, the company holds a dominant position with more than 30 percent market share in the domestic solar pump market.&nbsp;<\/p><p>Furthermore, the company gets revenue from across the world, primarily from the Middle East which contributes 44 percent of revenue, 30 percent of the revenue inflows from the USA, 15 percent of revenue comes from 15 percent, 7 percent of revenue from Asia and the remaining 4 percent of revenue is contributed from the rest of the world.&nbsp;<\/p><p>The company plans to invest Rs. 250 crores over the next five years in its newly incorporated green subsidiary. Moreover, under the KUSUM scheme, the government has a target to install over 3 million solar pumps, for which the company targets to install 20- 30 percent of it.&nbsp;<\/p><p>Headquartered in Pithampur, Shakti Pumps was incorporated in 1995. The company is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, and commercial and industrial applications.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-15249631\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Vaibhav Patil<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>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.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2883934079\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this pumps and motors manufacturing company surged up to 8 percent on Friday\u2019s trading session after the company received an order worth Rs. 258 crores from Haryana Renewable Energy Department. The shares have delivered a multibagger return of 157 percent to its shareholders on a YTD basis.&nbsp; With a market capitalisation of Rs. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":110098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[11674,12181,11673,948,936],"class_list":["post-116396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-shakti-pumps-latest-news","tag-shakti-pumps-latest-order","tag-shakti-pumps-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps up to 8% after receiving an order from Haryana Renewable Energy Dept worth \u20b9 258 Cr - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this pumps and motors manufacturing company surged up to 8 percent on Friday\u2019s trading session after the company received an order worth Rs. 258 crores from Haryana Renewable Energy Department. 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