Shakti Pumps (India) Limited (herein referred to as "Shakti Pumps"), a leading manufacturer of stainless-steel submersible solar pumps, pressure booster pumps, pump-motors, controllers, and inverters among other products, has expanded its presence in another export market with the commencement of operations in Uganda and opened a branch office in the country. Dr. S Jaishankar, the honourable External Affairs Minister along with the esteemed Uganda government members and Mr. Ramesh Patidar (Executive Director - SPIL) have joined the ceremony and inaugurated solar-powered piped drinking water supply project which will provide a safe and sustainable water supply to half a million Ugandans across 20 rural districts. The company was awarded this order from the Government of Uganda represented by the Ministry of Water and Environment for supplying a solar-powered water pumping system in March 2021 at a total contract price of USD 35.30 million (exclusive of VAT) funded by India Exim Bank in Uganda. Sharing his views on this vital development, Mr. Dinesh Patidar, Chairman & Managing Director, SPIL said: "We are extremely delighted to announce the implementation of our Uganda project, which is a key milestone for the company. This project would augur well with our green energy plans in Africa and would likely encourage other African countries to partner with us for similar projects. Exports have been contributing significantly to the overall company's revenue. We are already a partner of choice for major export markets such as the US and the Middle East, and eyeing to expand in other continents in a similar fashion." Shares of Shakti Pumps (India) Limited was last trading in BSE at Rs. 434.10 as compared to the previous close of Rs. 429.85. The total number of shares traded during the day was 6052 in over 619 trades. The stock hit an intraday high of Rs. 438.75 and intraday low of 421.80. The net turnover during the day was Rs. 2596577.00.
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