Shakti Pumps share price soared 58 per cent in the past three trading sessions till Wednesday after the Finance Minister Arun Jaitley proposed to spend Rs 86,500 crore on irrigation projects.
On the budget day, the scrip surged 12.55 per cent to Rs 108.50 from Rs 96.10 on Feb 26. On March 1, it surged further 17.32 per cent to Rs 127.30. On Wednesday, March 3, the share price of Shakti Pumps (India) hit upper circuit and advanced nearly 20 per cent to Rs 152.30 on BSE. The 30-share benchmark BSE Sensex soared 1,088 points in the past three trading.
In the past one year, the share price of Shakti Pumps skid 43.20 per cent to Rs 127.30 till March 1, where as the benchmark index BSE Sensex plunged 19.28 per cent during the same period.
For the financial year ended March 2015, the company reported a consolidated net profit of Rs 26.28 crore, up 5.20 per cent, against Rs 24.98 crore in the corresponding quarter a year ago.
Shakti Pumps is engaged in the business of manufacturing of submersible pumps along with submersible motors and electric control panels.