Is this solar pump manufacturing company giving huge profits to investors? View full details

This Solar Pump Manufacturing Company is Giving Huge Profits to Investors

Shakti Pumps India Limited, a prominent manufacturer of pumps and electric vehicle components, has announced a bonus issue of equity shares at a ratio of 5:1. The company’s current market capitalization stands at ₹9,456 crore, with its share price rising to ₹4,698, up from ₹4,680.15.

Bonus Issue Details

The Board of Directors has approved the issuance of five equity shares of face value ₹10 for every one share held by eligible shareholders, effective from the record date of November 25, 2024.

Latest Contracts and Initiatives

Recently, Shakti Pumps secured a contract from the Haryana Renewable Energy Department for the supply and installation of 3,174 solar water pumping systems under the PM-KUSUM scheme, valued at ₹116.36 crore. This project is expected to be completed promptly.

About Shakti Pumps India Limited

Shakti Pumps holds a 25% market share in India’s solar pump sector and boasts a robust order book of approximately ₹1,800 crore as of September 30, 2024. The company has also ventured into the electric vehicle market, enhancing its product portfolio.

For Investors: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their research before making any decisions.