Multibagger stock Shakti Pumps India surged as much as 5% on NSE in Monday’s trading session after the company secured ₹350 crore worth order from Maharashtra State Electricity Distribution Company (MSEDCL).

The stock opened at ₹607.95 apiece today, as compared to previous close of ₹574.10 on Friday. The stock touched an intraday high of ₹621.90 on 6 July.

What’s behind the rally?

Shakti Pumps India has secured a letter of empanelment from the Maharashtra State Electricity Distribution Company (MSEDCL) for setting up off-grid solar photovoltaic water pumping systems across the state.

As part of the order, the company will design, manufacture, supply, transport, install, test and commission 15,000 off-grid solar photovoltaic water pumping systems with capacities of 3 HP, 5 HP and 7.5 HP under the Maharashtra government’s Magel Tyala Saur Krushi Pump Yojana.

The contract, valued at ₹353.89 crore (inclusive of GST), covers the complete execution of the project—from design and manufacturing to installation, testing and commissioning. The work is to be completed within 60 days from the issuance of the work order or notice to proceed (NTP).

Shakti Pumps (India) manufactures and sells pumps, motors, variable frequency drives (VFDs), inverters and related spare parts. Its key offerings include engineered pumps, industrial pumps and solar pumps.

On the financial front, the company reported a 65.2% year-on-year decline in consolidated net profit to ₹38.33 crore for the fourth quarter of FY26, compared with ₹110.23 crore in the corresponding period last year. However, revenue from operations rose 28.9% year-on-year to ₹857.77 crore during the quarter ended March 2026.

Shakti Pumps share price trend

Shakti Pumps share price trend has remained volatile in the near-term. The multibagger stock has given 3% gains in a week and 12% in a month.

Furthermore, the stock has descended 18.18% on year-to-date (YTD) basis and 35.44% in a year.

Shakti Pumps stock has delivered multibagger returns of 517% in three years and 368% in five years.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.