Shakti Pumps (India) Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) to provide 25,000 solar-powered water pumps under the Magel Tyala Saur Krushi Pump Scheme.
On December 13, 2024, Shakti Pumps share price opened at ₹848.00, up from its previous close of ₹856.55. At 9:43 AM, the share price of Shakti Pumps was trading at ₹873.00, up by 1.92% on the NSE.
The project, worth ₹754.30 crore (including GST), will be executed across Maharashtra. Orders will be issued over the next year, with a 60-day timeline for delivery from the date of each order. This initiative supports sustainable irrigation practices in the state.
Commenting on this order, the Chairman of Shakti Pumps (India) Limited, Mr Dinesh Patidar, said, “We are delighted to have received the Letter of Empanelment for 25,000 pumps from MSEDCL, a development which would significantly bolster our robust order book position. This is the second major Letter of Empanelment we have received from the Government of Maharashtra during the past year, following the initial Letter of Empanelment for 50,000 pumps.”
He further added, “This achievement reinforces our position as a prominent player in the Solar Pumping System in Maharashtra. We remain committed to securing additional orders and ensuring their prompt execution.”
SPIL is involved in the manufacturing of solar pumps, energy-efficient stainless-steel submersible pumps, pump motors, pressure booster pumps, and other products.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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