Shakti Pumps surges on fund buying

Shakti Pumps (India) jumped 5.11% to Rs 506.95 at 12:27 IST on BSE after Old Bridge Capital Management bought 1.48 lakh shares of the company at Rs 476.02 per share in a bulk deal on the NSE yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was up 20.71 points, or 0.06% at 32,535.65. The S&P BSE Small-Cap index was up 1.48 points, or 0.01% at 16,095.04.

High volumes were witnessed on the counter. On the BSE, 3.55 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 532.65 and a low of Rs 490.85 so far during the day. The stock had hit a record high of Rs 539.10 on 12 July 2017 and a 52-week low of Rs 114.35 on 9 November 2016.

The stock had underperformed the market over the past one month till 31 July 2017, advancing 4.17% compared with the Sensex's 5.15% rise. The scrip had, however, outperformed the market over the past one quarter advancing 97.38% as against the Sensex's 8.68% rise. The scrip had also outperformed the market over the past one year advancing 241.09% as against the Sensex's 15.91% rise.

The small-cap company has equity capital of Rs 18.38 crore. Face value per share is Rs 10.

Shakti Pumps (India)'s consolidated net profit spurted 151.6% to Rs 4.83 crore on 16.8% increase in net sales to Rs 88.80 crore in Q1 June 2017 over Q1 June 2016.

Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.

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