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Multibagger Stock Shakti Pumps: Despite the sharp fall in the Indian Stock Market, the shares of multibagger stock Shakti Pumps are witnessing a strong rise in the trading session of 13 December 2024. After a jump of 5 percent, the share of Shakti Pump has reached Rs 899.35 from around Rs 900. Due to 5 percent rise, the stock has entered upper circuit. The reason for the rise in the stock of Shakti Pump is the huge order of more than Rs 750 crore received from the Maharashtra Government.
Received order worth Rs 754 crore from Maharashtra government
Shakti Pumps said in its regulatory filing with the stock exchanges that the company has received Letter of Empanelment for 25000 pumps from Maharashtra State Electricity Distribution Company Limited. Shakti Pumps India Limited (SPIL) said that the company has to install 25000 pumps at a cost of Rs 754.30 crore across Maharashtra under the Magel Tyala Saur Krushi Pump Scheme. The company said that after receiving the letter of empanelment from Maharashtra State Electricity Distribution Company Limited, it will continue to get orders continuously for the next one year.
Stock gave 4 times return in 2024
Shakti Pumps stock is one of the multibaggers stocks in the Indian stock market. In the year 2024 itself, the company’s stock has quadrupled the money of its shareholders. From January till now in 2024, the shares of Shakti Pumps have increased by 427 percent. In two years, the share of Shakti Pumps has increased by almost 1200 percent i.e. 12 times, and in 5 years by 2537 percent i.e. 25 times.
The company gifted bonus shares to the shareholders.
The company has also gifted bonus shares to its shareholders this year. The company had announced to give bonus shares on 7 October 2024. In exchange for each share, investors have been given 5 shares as bonus, the record date of which was 25 November 2024.
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