India's Shakti Pumps rises on second patent win this month

Shakti Pumps (India)

31/10/2023 08:04

** Shares of Shakti Pumps  SHPU.NS  up 5% at 1,063.95 rupees
    ** Pumps and motors maker gets patent for inventing a waste
water pump
    ** This is its second patent win in the month
    ** Stock had surged to record high in mid Oct on an order
win
    ** Stock has stayed above it 50-day simple moving avg since
mid-May, except for one session in mid-Aug post June-qtr results
    ** Stock has now surged 161% this year, on track for its
best year since 2017

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))