Shakti Pumps, Oswal Pumps, GK Energy: Pump manufacturing companies in focus on multiple order wins

Shares of solar pump manufacturing companies, including Shakti Pump, Oswal Pumps and GK Energy, among others, are in the spotlight this week, amid a flurry of order wins.

Shakti Pumps

Shakti Pumps’ stock surged as much as 5.3% to an intra-day high of ₹661.50 per equity share on the National Stock Exchange (NSE) on Friday, December 12, as it secured a work order, valued at ₹23.98 crore (including GST) from the Jharkhand Renewable Energy Development Agency, as stated in a regulatory filing.

The stock was trading 3.80% higher at ₹652.10 per equity share at around 1:56 pm. Over the week, the scrip has gained a little over 7%.

It received a letter of award for 1,200 solar water pumping systems (SWPS) at various locations across the state of Jharkhand under component B of the PM-KUSUM scheme, it added.

Under the terms of the contract, the company will design, manufacture, supply, transport, install, test, and commission solar water pumping systems.

The order is expected to be completed within 120 days from the date of notice to proceed or work order, it said.

On Thursday, the company bagged an order worth ₹443.78 crore (including GST) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL).

The firm received a letter of empanelment for 16,025 off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps of 3 HP, 5 HP, and 7.5 HP for Maharashtra under Magel Tyala Saur Krushi Pump Yojana/PM Kusum B Scheme.

The project is set to be executed within 60 days from the date of issuance of the work order or notice to proceed (NTP), it added.

GK Energy

While the stock of GK Energy was trading in the red on Friday, it has gained about 7% in the past week.

This comes after it bagged an order worth ₹366.63 crore (including GST) from MSEDCL.

In a regulatory filing on Thursday, the company stated that it received a letter of empanelment for 13,239 off-grid DC SPWPS pumps of 3 HP, 5 HP and 7.5 HP.

The firm will design, manufacture, supply, transport, install, test and commission off-grid DC SPWPS for the entire state of Maharashtra.

Oswal Pumps

Shares of Oswal Pumps fell on Friday. However, they rose nearly 2% over the week,

The pump manufacturing company on Thursday received a work order valued at ₹380 crore from MSEDCL.

The letter of award was for 13,73 off-grid DC SPWPS, which is to be executed within one year. Furthermore, the installation is expected to be completed within 60 days from the date of issuance of the NTP or work order, or JSR approval.

The firm will design, manufacture, supply, transport, install, test and commission off-grid DC SPWPS pumps of 3HP, 5 HP & 7.5 HP capacity at identified farms.

It will also include the complete system warranty and its repair and maintenance, and the Remote Monitoring System (RMS) for five years, it added.

The flurry of orders, especially from MSEDCL, comes as the state government-owned PSU earned a place in the Guinness World Record by installing 45,911 off-grid solar agricultural pumps in just 30 days.