Shares of Shakti Pumps Ltd soared 12% in early trade on Thursday, 10 September, after the company secured a Rs 235.92 crore order from Maharashtra State Electricity Distribution Company (MSEDCL). 

The stock touched an intraday high of Rs 524.45 on the NSE, as investors reacted positively to the large solar pump order.

The order involves the supply and installation of 10,000 off-grid Solar Photovoltaic Water Pumping Systems across Maharashtra. The company will supply pumps with capacities of 3 HP, 5 HP and 7.5 HP under the state’s Magel Tyala Saur Krushi Pump Yojana. The initiative aims to support farmers by providing solar-powered irrigation systems.

Shakti Pumps will handle the complete execution of the project. Its responsibilities include designing and manufacturing the pumps, transporting them to designated locations, installing the systems and completing testing and commissioning. The company must complete the order within 60 days from the issuance of the work order or Notice to Proceed.

The latest contract adds to Shakti Pumps’ growing presence in India’s solar irrigation market. The company had an outstanding order book of around Rs 1,500 crore as of 7 May 2026, with a significant portion linked to solar photovoltaic water pumping systems across states including Maharashtra, Karnataka and Madhya Pradesh.

The company has also won several large solar pump contracts this year. In January, it secured a Rs 654.03 crore order from Karnataka Renewable Energy Development Limited for 16,780 solar pumps, marking its entry into the southern market.

Shakti Pumps opened at Rs 506.90 on the NSE on Thursday, and at 11:35 am, the shares were trading 6.37% higher at Rs 497.60.

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