Shakti Pumps shares surge on Rs 1,603 crore order from MSEDCL

20 Oct 2023 CW Team

The order is worth around Rs 1,603 crore (including of GST) and would be completed over a 24-month period, according to the company. Earlier this month, on October 7, the company announced that it had received a Letter of Intent from Ajmer Viduyt Vitran Nigam Limited for the implementation of a grid-connected Solar Water Pumping System (Mandatory replacement of existing grid-connected AC Pump with BLDC Pump Sets) under the PM KUSUM Scheme (Component C). The order must be completed within nine months of the date of issue of the LoI and must include five years of full maintenance.

The project entails replacing inefficient electric pump sets with BLDC Solar Pump sets, with the pump set running on solar power and surplus electricity being transmitted to the grid. According to the business, this benefits farmers across India by improving irrigation capacity, lowering reliance on traditional energy, and enabling the option to earn money from surplus power sales to Discoms. SPIL manufactures pumps, motors, and their replacement parts. Engineered Pumps, Industrial Pumps, and Solar Pumps are some of the company's main products. SPIL is now operating in numerous states and anticipates receiving additional orders under the PM-KUSUSM scheme III for about 8.57 lakh solar pumps sanctioned by SECI (Solar Energy Corporation of India) in the near future.

"The Uganda project has also commenced in the year, which aligns with the green energy plans in Africa. Collaboration for similar projects is expected from the adjoining African nations as well. SPIL is already a preferred partner for major export markets in the USA and the Middle East, and efforts are being taken to expand this into other continents as well," the company said in its FY23 annual report.

Shakti Pumps (India) (SPIL) shares reached a record high of Rs 1,108.35 on the BSE after the company received orders worth Rs 1,603 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The stock outperformed its previous high of Rs 963 on October 6, 2023. At 10:19 a.m., the S&P BSE Sensex was down 0.55 percent at 65,514. The company has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company for 50,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) pumps for the entire state of Maharashtra under Component-B of PM-KUSUM scheme (Phase-III), the company stated in a filing with the stock exchange. The order is worth around Rs 1,603 crore (including of GST) and would be completed over a 24-month period, according to the company. Earlier this month, on October 7, the company announced that it had received a Letter of Intent from Ajmer Viduyt Vitran Nigam Limited for the implementation of a grid-connected Solar Water Pumping System (Mandatory replacement of existing grid-connected AC Pump with BLDC Pump Sets) under the PM KUSUM Scheme (Component C). The order must be completed within nine months of the date of issue of the LoI and must include five years of full maintenance. The project entails replacing inefficient electric pump sets with BLDC Solar Pump sets, with the pump set running on solar power and surplus electricity being transmitted to the grid. According to the business, this benefits farmers across India by improving irrigation capacity, lowering reliance on traditional energy, and enabling the option to earn money from surplus power sales to Discoms. SPIL manufactures pumps, motors, and their replacement parts. Engineered Pumps, Industrial Pumps, and Solar Pumps are some of the company's main products. SPIL is now operating in numerous states and anticipates receiving additional orders under the PM-KUSUSM scheme III for about 8.57 lakh solar pumps sanctioned by SECI (Solar Energy Corporation of India) in the near future. The Uganda project has also commenced in the year, which aligns with the green energy plans in Africa. Collaboration for similar projects is expected from the adjoining African nations as well. SPIL is already a preferred partner for major export markets in the USA and the Middle East, and efforts are being taken to expand this into other continents as well, the company said in its FY23 annual report.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..