India's Shakti Pumps hits fresh record high after land sanction for expansion

Shakti Pumps (India)

30/01/2024 05:41

** Shares of Shakti Pumps  SHPU.NS  jump as much as 17.9% to
a record high of 1,498 rupees
    ** Pump maker on Monday said Madhya Pradesh Industrial
Development Corp sanctioned 46 acres of land to co, which will
be used for future expansion
    ** SHPU gained over 20% and hit a record high on Monday
after it reported a more than four-fold surge in Q3 profit last
week
    ** Stock up more than 42% this week so far
    ** More than 890,000 shares change hands, 6.3x its 30-day
avg; on track for most active trading session since Oct. 20
    ** Stock has gained ~44% so far in Jan., on track for
biggest monthly gain since May 2017


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))