Heavy buying and 300 per cent returns: Back-to-back upper circuit in this solar pump multibagger stock; bags new order worth Rs 33.47 crore!
Shares of the company gained more than 300 per cent in the last six months.
Shares of Shakti Pumps (India) Limited were locked in the upper circuit on Tuesday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has gained more than 300 per cent in the last six months.
Recently, Shakti Pumps (India) Limited has secured a significant order from the Maharashtra Energy Department Agency (MEDA) for the supply and installation of 1,200 off-grid solar photovoltaic water pumping systems (SPWPS) across Maharashtra. This project, valued at approximately Rs 33.47 crore, is part of the PM-KUSUM scheme. This win solidifies Shakti Pumps' position as a key player in the renewable energy sector and highlights their commitment to providing sustainable solutions for water management.
The company posted brilliant Quarterly Results. The revenue of the company for Q1FY25 stood at Rs 567.56 crore which grew by 402 per cent YoY. The operating profit of the company stood at Rs 138.82 crore, while the PAT of the company stood at Rs 92.66 crore, representing an impressive growth of 9,166 per cent YoY. The stock has delivered multibagger returns of over 500 per cent in one year. The company has an order book of Rs 2,400 crore as of April 2024.
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Shakti Pumps (India) Limited 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, commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.