Shares of Shakti Pumps (India) Ltd were trading 8% higher on 29 December after the company announced securing an order worth Rs 258 crore from the Haryana Renewable Energy Department.

In its regulatory filing, the company said, “The company has received a second work order under the KUSUM‐3 (Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme from Haryana Renewable Energy Department (HAREDA) for 6,408 pumps,”

The order is for the supply, installation, and commissioning of solar water pumping systems and has to be executed within 90 days from the date of issue of the work order.

Earlier, the company had received another order from the Haryana Renewable Energy Department to supply 7,781 pumps for a total consideration of Rs 358 crore.

In November, the company received a Letter of Empanelment for 50,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) pumps from Maharashtra State Electricity Distribution Company Limited for the entire state of Maharashtra under Component-B of the PM-KUSUM scheme (Phase-III).

The order book for the current fiscal year stands at Rs 900 crore.

The company was established in 1995 and is headquartered in Pithampur. The company is engaged in the business of manufacturing pumps and motors of various kinds and also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, and commercial and industrial applications.

At 3:30 pm, the shares of Shakti Pumps closed 3.10% higher at Rs 1,034 on NSE.