Shakti Pumps stock: Shares of Shakti Pumps (India) hit a new high of Rs 4,240.80, up 5 per cent on the BSE in intra-day trade on Wednesday. In the last one week, the shares of the pump manufacturing company have increased by 27 percent. It has recovered 81 percent from its last month’s low of Rs 2,347 touched on June 4. Currently the company’s shares are trading at 251 percent more than its qualified institutional placement (QIP) price. Let us inform you that on March 22, the company had raised Rs 200 crore through QIB by issuing 1.65 million shares at a price of Rs 1,208.50 per share.
what are the details
Let us inform that the QIP received an excellent response by qualified domestic institutional investors and was fully subscribed by two large mutual funds (MFs) – LIC Mutual Fund and SBI Mutual Fund. The company’s shares are currently traded under the trade-to-trade (T) segment. Meanwhile, in the last one year, the share price of Shakti Pumps (India) has increased by 616 percent from the level of Rs 592.30 on BSE. In comparison, BSE Sensex has risen 22 percent.
Mukesh Ambani’s big bet on ₹28 share is continuously making investors rich
This share will rise by 50%, there is a rush to buy it, the company is going to be debt free
company business
Let us tell you that Shakti Pumps (India) is a leading manufacturer of solar stainless-steel submersible pumps, pressure booster pumps, pump-motors, controllers and inverters, among other products. SIPL has a strong market position in solar pumps under the Pradhan Mantri Kisan Urja Suraksha and Utthan Mahabhiyan (PM-KUSUM) scheme. Apart from fulfilling government orders from 9 states under KUSUM, SPIL also fulfills non-KUSUM government orders received from government entities based in Maharashtra and Chhattisgarh.
