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 Urban

17 Sep 2025

ICMM CEO Rohitesh Dhawan Visits Hindustan Zinc

Hindustan Zinc, India’s only and the world’s largest integrated zinc producer, hosted Rohitesh Dhawan, President & CEO of the International Council on Mining and Metals (ICMM), at its flagship Sindesar Khurd Mine (SKM) in Rajasthan. The visit follows Hindustan Zinc’s induction as the first Indian company into ICMM, marking a significant milestone for India’s mining sector on the global sustainability stage.Dhawan, accompanied by run Misra, CEO of Hindustan Zinc, and the senior leadership team, toured Sindesar Khurd Mine – the world’s fourth-largest silver-producing mine – to ..

Infrastructure Urban

17 Sep 2025

Amit Gupta Appointed CFO of Vedanta Jharsuguda Unit

Vedanta Aluminium has announced the appointment of Amit Gupta as Deputy Chief Financial Officer of its aluminium business and Chief Financial Officer of its Jharsuguda unit in Odisha.Gupta has been associated with the Vedanta Group since 2018, beginning as Group Head – FP&A at Vedanta Resources. With over two decades of cross-sector experience, he brings strong expertise in financial strategy, project finance, and business transformation.Prior to this role, he served as CFO of Bharat Aluminium Company (BALCO), where he led finance operations for more than four years. He has also held sen..

Infrastructure Energy

17 Sep 2025

Adani Power To Build 2,400 MW Plant in Bihar

Adani Power on Saturday (September 13, 2025) announced plans to set up a 2,400 MW ultra super-critical power plant in Bihar at an investment of $3 billion (around Rs 26.48 billion).The company has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd (BSPGCL) to supply electricity from the project, which will be located at Pirpainti in Bhagalpur district.The PSA follows a Letter of Award issued by BSPGCL to Adani Power on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August. Adani P..