Shakti Pumps

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Water pumps company Shakti Pumps on Thursday said it has been assigned 'IND A' ratings by India Ratings and Research (Ind-Ra) with a stable outlook. The Madhya Pradesh-based company is a leader in the manufacturing of energy-efficient pumps and motors, including solar. In a regulatory filing, Shakti Pumps said, "India Ratings and Research (Ind-Ra) has affirmed its bank facilities at 'IND A' with a stable outlook". The rating agency has considered several parameters to assign a positive outlook on it, the filing said. "As per the rating agency, the key rating drivers were (company's) established market position, strong distribution network, diversified revenue portfolio, FY22, steady revenue profile in 9M FY23 (April-December) and robust credit metrics," it said. Dinesh Patidar, Chairman and Managing Director of Shakti Pumps (India) Limited, said the IND A/stable ratings demonstrate the company's focus on balance-sheet growth. Going forward the company aims to maintain its 30-40 pe

Stocks to watch today: Tata Elxsi, L&T Infotech will report their June quarter results 2022 on Thursday July 14; Mindtree posted 37.3 per cent rise in net profit to Rs 471.6 crore for Q1FY23.

The stock price of the company hit a 52-week low of Rs 473.50 and has almost halved or tanked 48 per cent from its 52-week high of Rs 910 touched on June 8, 2021.

Shakti Pumps India manufactures and supplies solar pumps and motorised pumps

For the entire financial year 2020-21 (FY21), Shakti Pumps posted a consolidated net profit of Rs 75.59 crore as against a net loss of Rs 14.08 crore in FY20

Jindal Stainless Hisar (JSHL) reported an over three-fold jump in its consolidated net profit at Rs 350.65 crore for the quarter ended March 31, 2021, mainly on account of increased income

While presenting the Budget for 2020-21, Finance Minister Nirmala Sitharaman said that 2 million farmers would be provided funds to set up grid-connected 1.5 million solar pumps.

The stock up 6% to Rs 552 on the BSE in noon deal after Vintex Tools Private Limited, promoter of the company, bought 10,194 shares through open market today

The stock hit a new high of Rs 576, up 8% on BSE in noon deal, after the company reported more than four-fold jump in its consolidated net profit at Rs 167 million in Q3FY18.

The company reported net profit of Rs 11 crore in Q4FY17 against Rs 22 lakh in year ago quarter.

The stock soared 17% to Rs 149 in intra-day trade on BSE, surging 54% from Rs 97 on February 26.