Introduction:
Shakti Pumps Ltd. receives an order worth Rs 293 crore from the Uttar Pradesh government’s agriculture department.
Multibagger Stocks |
Shares of Shakti Pumps Ltd. surge 12% after receiving a lucrative order from the Uttar Pradesh government.
Rise in Stock:
Investors flock to buy Shakti Pumps Ltd. shares as the company is awarded an order worth Rs 293 crore.
Order Details:
The Department of Agriculture, Government of Uttar Pradesh awards Shakti Pumps Ltd. an order to supply 10,000 pumps under the PM KUSUM III scheme.
Positive Trading Session:
Shakti Pumps Ltd. witnesses an increase of 11.41% in their stock price during Friday’s trading session.
Company Background:
Shakti Pumps Ltd. is a leading manufacturer of pumps and motors, providing modern water pumping services for various sectors.
Impressive Returns:
Investors in Shakti Pumps Ltd. enjoy a 115% return on their investments since the beginning of the year.
Financial Performance:
Shakti Pumps Ltd. reports net sales of Rs 113.06 crore for the June 2023 quarter and records a net profit of Rs 1 crore.
Decline in Profit:
The company’s net profit for the June 2023 quarter declines by 88.6% compared to the previous year’s June quarter.
Important Note:
Investing in mutual funds and the stock market carries risks. Consult a financial advisor before making any investment decisions.
