Shakti Pumps shares surge 8% on Rs 354 crore solar pump order from MSEDCL

Synopsis

Shakti Pumps shares rose sharply on Monday trade after the company won a Rs 353.89 crore order from MSEDCL. The contract covers the supply, installation and commissioning of 15,000 off-grid solar photovoltaic water pumping systems under Maharashtra's Magel Tyala Saur Krushi Pump Yojana.

Shares of Shakti Pumps rose more than 8% on Monday after the company announced it had received an order worth nearly Rs 354 crore to supply 15,000 solar photovoltaic water pumping systems from the Maharashtra State Electricity Distribution Company (MSEDCL).

Shakti Pumps shares jumped as much as 8.3% to Rs 621.9 on the NSE in Monday morning trade after the company announced a new order win.

In an exchange filing released on Saturday, Shakti Pumps stated that it has received the Letter of Empanelment from MSEDCL for 15,000 off-grid solar photovoltaic water pumping systems (SPWPS) for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Yojana.

The total value of the 15,000 pumps said to be delivered as part of the contract was estimated at around Rs 353.89 crore, including GST. The domestic order, which includes the design, manufacturing, supply, transport, installation, testing and commissioning of the off-grid solar photovoltaic water pumping systems, is expected to be executed within 60 days from the issuance of the work order/NTP, the company said.

The Magel Tyala Saur Krushi Pump Yojana was announced by the Maharashtra government in 2024. It aims to provide 10 lakh agriculture solar pumps for new connections to the farmers. With the deployment of the scheme, the state government expects more than 10 lakh acres of land to come under irrigation.

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Shakti Pumps share price

The stock has gained around 4% over the past week and more than 13% in the last month. However, it remains down over 17% so far in 2026 and has declined 35% over the past year. Despite the recent weakness, Shakti Pumps has delivered multibagger returns of 523% over the last three years and 373% over the past five years.

After hitting a 52-week high of Rs 979 apiece in July last year, the stock sharply tumbled over 53% in eight months to hit a 52-week low of Rs 456.35 apiece in March this year. The stock has so far recovered 36% since then. The company currently has a market capitalisation of nearly Rs 7,606 crore.

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