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.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..