Multibagger Shakti Pumps share price hits 5% upper circuit: Here’s what is driving the gains?

Stock Market today: Multibagger Shakti Pumps India Ltd share price gained 5% on Monday was also locked in upper circuit. 

Shakti Pumps share price opened at ₹828, on the BSE on Monday, up 5% over the previous close of ₹788.60. The Shakti Pumps share price thereafter continued to trade at similar levels as ₹828 remained the upper price limit for the stock.

Shakti pumps share price having risen almost 5 folds in a year has given Multibagger returns to investors.

Shakti Pumps share trades Ex-Bonus today

Shakti Pumps on 11 November had announced fixing Monday, November 25, 2024 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company. Thus investors whose names appear today as eligible shareholders will be issued 5 equity hares of Shakti Pumps for one share held by them.

Shakti Pumps earlier on 7 October 2024 had intimated exchanges towards the resolution proposed for allotment of bonus equity shares of Rs.10/- (Rupees Ten only) each credited as fully paid up to eligible members of the Company holding equity shares of Rs. 10/- (Rupees Ten only) each whose names appear in the Register of Members/Register of Beneficial Owners on a ‘Record Date’ to be determined by the Board for this purpose, in the proportion of 5:1 i.e i.e., 5 (Five) new fully paid up equity share of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid up equity share of Rs. 10/- (Rupees Ten only) each held by them.

As the Bonus share issue had led the Shakti Pump share price touch 1 year or 52 week high of ₹860.22 on 10 November., the company also had reported decent Q2 performance.

Decent Q2 results- Shakti Pumps reported revenues at ₹634.59 crore grow 4 folds from ₹152.78 crore in the year ago quarter. The consolidated net profit at ₹101.42 crrre also ad grown multifold from ₹5.84 crore in the year ago quarter.

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