Shares of Jain Irrigation Systems Ltd slumped 6% on 14 August despite the company announcing securing a solar pump deal for Rs 135 crore.

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) Chief Engineer (Special Project Department) has awarded a contract to design, manufacture, supply, transport, install, test, and commission off-grid DC solar photovoltaic water pumping systems (SPWPS) with capacities of 3 HP, 5 HP, and 7.5 HP.

Under this project, the company would provide and install 5,438 solar pumps in various districts of Maharashtra, with a total project value of Rs 135 crore + GST.

Earlier, in December 2024, the business completed Phase I of the plan, installing 4,180 solar pumps worth Rs 103 crore.

On 21 January 2025 and 07 August 2025, the share reached a 52-week high of Rs 83.35 and a low of Rs 45.16.

At 12:59 pm, the shares of Jain Irrigation Systems were trading 5.61% lower at Rs 49.77 on NSE.

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