Shares of Shakti Pumps (India) Ltd. surged over 12% on Thursday, December 11, after it announced that it had received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply and installation of 16,025 off-grid DC solar photovoltaic water pumping systems across the state.

The project, awarded under the Magel Tyala Saur Krushi Pump Yojana / PM-KUSUM B Scheme, is valued at ₹443.78 crore, the company said in an exchange filing.

According to the disclosure, the scope of work includes design, manufacture, supply, transport, installation, testing and commissioning of solar-powered pumps of 3 HP, 5 HP and 7.5 HP capacities. The order is to be executed within 60 days from the issuance of the formal work order or notice to proceed, the sola

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