Shakti Pumps India gains after empanelment order from MSEDCL

Shakti Pumps India jumped 5.32% to Rs 880 after the company received a letter of empanelment from Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of 34,720 standalone off-grid DC solar photovoltaic water pumping systems.

The order is worth about Rs 1,037 crore. It includes installations throughout Maharashtra under the Magel Tyala Saur Krushi Pump Yojana and PM KUSUM B scheme. The empanelment lasts for one year.

Shakti Pumps (India) chairman, Dinesh Patidar, expressed his delight on this significant development: We are delighted to announce that we have received a Letter of Empanelment for 34,720 pumps from MSEDCL under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B. This significant development will greatly enhance our robust order book position.

As one of the leaders in the solar pumps market, we hold a strong market share across key states, and this large order further solidifies our position. We are witnessing steady inflows and actively participating in tenders across states like Maharashtra, Madhya Pradesh, Rajasthan, Haryana, Punjab, Uttar Pradesh, Jharkhand, etc. Our presence in these markets, built over more than a decade, positions us well to capitalize on the immense opportunities that lie ahead.

Shakti Pumps (India) manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors, and other products.

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