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Shakti Pumps (India) has rallied 4% to Rs 551, extending its Friday’s 1% gain on BSE in otherwise weak market, on institutional buying. On February 1, 2018 Portfolio Management Schemes of Old Bridge Capital Management bought 81,434 shares representing 0.43% stake in Shakti Pumps through open market. Post acquisition, total holding of Portfolio Management Schemes of Old Bridge Capital Management in Shakti Pumps increased to 5.3% from 4.87% earlier. The name of the sellers not ascertained immediately. Shakti Pumps (India) is a leading manufacturer of stainless steel submersible pumps and motors.
It offers products including solar pumps, pressure booster pumps, sewage pumps, suction pumps, and open well pumps. At 11:26 AM; the stock was trading 3.9% higher at Rs 549 on BSE as compared to 0.68% decline in the S&P BSE Sensex. A combined 233,407 shares changed hands on the counter on BSE and NSE.