Shakti Pumps (India) corrects on sale for profit


Shakti Pumps (India) fell 3.41% to Rs 669.20 on the profit sell after recent strong gains.

Shares of Shakti Pumps (India) have jumped 17.59% over the past seven trading sessions.

Over the past year, the stock has climbed 102.63% while the benchmark Sensex has added 24.46% over the same period.

On the technical side, the RSI (relative strength index) of the stock stood at 52.36. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 637.88, 615.73 and 616.53, respectively.

On a consolidated basis, Shakti Pumps (India) net profit increased by 36.35% to Rs 20.78 crore on an 83.51% increase in net sales to Rs 369.02 crore in Q2 September 2021 by compared to Q2 September 2020.

Shakti Pumps (India) manufactures energy efficient pumps and motors. With a leading position in the solar pump markets in India, Shakti exports a wide range of pumping products to over 100 countries globally.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor


Comments are closed.