Shakti Pumps rallies after securing large solar pump mandate

Buying interest surged in Shakti Pumps after the company announced a major domestic order from Maharashtra State Electricity Distribution Company. Shares jumped 13 percent, snapping an eight-session losing streak. The firm received a letter of empanelment for supplying 16,025 off-grid DC solar water pumps under the Magel Tyala Saur Krushi Pump Yojana and PM KUSUM B scheme. The order is valued at about Rs 443.78 crore including GST and is scheduled for execution within 60 days.