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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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.

Infrastructure Energy

08 Sep 2025

SCCL Mines Win 5-Star National Awards for Excellence

Singareni Collieries Company Limited (SCCL) has been awarded 5-Star ratings at the national level for four of its coal mines for the last financial year, recognising the company’s excellence in sustainable mining, safety, and operational practices.The honoured mines include:RG OC-1 Extension from the Ramagundam-3 AreaJK-5 OC from the Yellandu AreaRK-6 Underground Mine and RK-Newtech Mine from the Srirampur AreaThese awards were presented during the 5-Star Rating Awards Ceremony held in Mumbai, where SCCL Chairman and Managing Director N. Balram received the accolades from Union Minister for ..

Infrastructure Urban

08 Sep 2025

JFSL Gets Rs 3.96 Billion from Promoters for Expansion

Jio Financial Services Ltd (JFSL) announced on Wednesday that promoter group companies have infused Rs 3.96 billion into the firm to support its expansion plans. The company’s board allotted 500 million convertible warrants at Rs 316.50 per warrant to Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Private Ltd, both part of the promoter group.Each entity has received 250 million warrants, and the total amount received—Rs 3,956.25 crore (Rs 39.56 billion)—represents 25 per cent of the total warrant issue price, in accordance with regulatory norms.This development is par..

Infrastructure Urban

08 Sep 2025

RBI to Withdraw Rs 1.5 Trillion via 8-Day VRRR Auction

The Reserve Bank of India (RBI) has announced an eight-day Variable Rate Reverse Repo (VRRR) auction to be held on Thursday, with the objective of withdrawing Rs 1.5 trillion from the banking system. This move comes amid a significant liquidity surplus, which stood at Rs 3.03 trillion as of Tuesday, according to the central bank’s latest data.VRRR operations are a key liquidity management tool used by the RBI to absorb excess cash from the financial system and align short-term interest rates with the policy repo rate. By conducting such auctions, the RBI aims to maintain monetary stability a..