Shakti Pumps (India) Ltd shares jumped 12 percent in early trade on Thursday after the company secured a Rs 235.92 crore order from Maharashtra State Electricity Distribution Company for the supply of 10,000 solar pumps.
The stock hit an intraday high of Rs 524.45 per share on the NSE, up 12.10 percent from its previous close.
Shakti Pumps shares had settled over 1 percent lower in the previous session.
After market hours on Wednesday, the company announced the order from Maharashtra, leading to buying interest in the stock when markets opened on Thursday.
In an exchange filing, the company said it had received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Ltd for 10,000 off-grid Solar Photovoltaic Water Pumping Systems of 3 HP, 5 HP and 7.5 HP capacity across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana.