Shakti Pumps shares jump 12% after Rs 236 crore Maharashtra solar pump empanelment
Shakti Pumps will undertake the design, manufacture, supply, transportation, installation, testing and commissioning of the off-grid solar photovoltaic water pumping systems.
- Sep 10, 2026,
- Updated Sep 10, 2026 9:51 AM IST
Shares of Shakti Pumps (India) Ltd jumped 12 per cent in Thursday's trade after the company said it received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for 10,000 off-grid solar photovoltaic water pumping systems across Maharashtra.
Under the empanelment, Shakti Pumps will supply solar water pumping systems with capacities of 3 HP, 5 HP and 7.5 HP across the state under the Magel Tyala Saur Krushi Pump Yojana. The total value of the 10,000 pumps is around Rs 235.92 crore, including GST. The basic work value excluding GST is Rs 216.64 crore.
Following the development, Shakti Pumps shares jumped 12.11 per cent in Thursday's trade to hit a high of Rs 524.90 over their previous close of Rs 468.20.
The company's stock has a 52-week high of Rs 914.95 and a 52-week low of Rs 457, according to the market data. The current price is also above the 52-week low by around 12.8 per cent.
What the empanelment involves
As part of the project, Shakti Pumps will undertake the design, manufacture, supply, transportation, installation, testing and commissioning of the off-grid solar photovoltaic water pumping systems.
The company said the project covers the entire state of Maharashtra and will be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP). The awarding entity, MSEDCL, is a domestic entity and the contract has also been classified as a domestic order.
The solar pumping systems are being deployed under the Magel Tyala Saur Krushi Pump Yojana, a Maharashtra government initiative aimed at providing solar-powered irrigation pumps for agricultural use.
The company also disclosed that the promoters, promoter group or group companies have no interest in the entity awarding the contract. It further said the contract does not fall under related-party transactions.
The latest announcement follows a similar MSEDCL empanelment received by Shakti Pumps in July for 15,000 off-grid solar photovoltaic water pumping systems worth around Rs 353.89 crore, also under the Magel Tyala Saur Krushi Pump Yojana.
Shakti Pumps is engaged in manufacturing pumps, motors, variable frequency drives (VFDs), inverters and related products, with solar pumps forming a key part of its business.
Shares of Shakti Pumps (India) Ltd jumped 12 per cent in Thursday's trade after the company said it received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for 10,000 off-grid solar photovoltaic water pumping systems across Maharashtra.
Under the empanelment, Shakti Pumps will supply solar water pumping systems with capacities of 3 HP, 5 HP and 7.5 HP across the state under the Magel Tyala Saur Krushi Pump Yojana. The total value of the 10,000 pumps is around Rs 235.92 crore, including GST. The basic work value excluding GST is Rs 216.64 crore.
Following the development, Shakti Pumps shares jumped 12.11 per cent in Thursday's trade to hit a high of Rs 524.90 over their previous close of Rs 468.20.
The company's stock has a 52-week high of Rs 914.95 and a 52-week low of Rs 457, according to the market data. The current price is also above the 52-week low by around 12.8 per cent.
What the empanelment involves
As part of the project, Shakti Pumps will undertake the design, manufacture, supply, transportation, installation, testing and commissioning of the off-grid solar photovoltaic water pumping systems.
The company said the project covers the entire state of Maharashtra and will be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP). The awarding entity, MSEDCL, is a domestic entity and the contract has also been classified as a domestic order.
The solar pumping systems are being deployed under the Magel Tyala Saur Krushi Pump Yojana, a Maharashtra government initiative aimed at providing solar-powered irrigation pumps for agricultural use.
The company also disclosed that the promoters, promoter group or group companies have no interest in the entity awarding the contract. It further said the contract does not fall under related-party transactions.
The latest announcement follows a similar MSEDCL empanelment received by Shakti Pumps in July for 15,000 off-grid solar photovoltaic water pumping systems worth around Rs 353.89 crore, also under the Magel Tyala Saur Krushi Pump Yojana.
Shakti Pumps is engaged in manufacturing pumps, motors, variable frequency drives (VFDs), inverters and related products, with solar pumps forming a key part of its business.