India's Shakti Pumps hits near 3-month high as $1 mln project dues cleared

Shakti Pumps (India)

20/04/2023 05:23

** Shares of Shakti Pumps (India) Ltd  SHPU.NS  rise as much
as 6.1% to 464 rupees, hitting their highest since Jan. 24
    ** The pumps and motors maker receives pending $1 million
from govt of Uganda for a project to supply solar powered water
pumping system
    ** Stock crosses its 200-day moving average for the first
time since Sept. 30, 2022, while it continues trading above its
50- and 100-day moving averages
    ** Moving Average Convergence Divergence (MACD) line
continues to stay above the signal line since March 5,
suggesting bullish momentum
    ** Stock posts it sharpest intraday pct gain since March 10
    ** More than 143,280 shares change hands by 9:34 a.m. IST,
2.8x the 30-day avg of 51,251 shares
    ** Stock last up 4.6%, extending year to date gains to ~12%


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))