Multibagger Shakti Pumps Share Price Hit 5% Upper Bound: What Is Reasoning For The Rise?

Stock Market Today: Multibagger Shakti Pumps India Ltd share price rose 5% on Monday and also settled in the upper range.

Shakti Pumps share price at opening ₹828 on BSE on Monday, up 5% from previous close. ₹788.60. After this, Shakti Pumps share price continued to trade at the same level as ₹828 remained the upper price limit of the stock.

The share price of Shakti Pumps, which rose almost 5 times in a year, brought Multibagger profits to investors.

Shakti Pumps shares are trading today without a bonus

On November 11, Shakti Pumps announced that Monday, November 25, 2024, has been designated as the Record Date for the purpose of determining the Company’s shareholders entitled to receive bonus shares of the Company. Thus, investors whose names appear as eligible shareholders today will receive 5 Shakti Pumps shares for each share they own.

Earlier on October 7, 2024, Shakti Pumps reported the exchange pursuant to the proposed resolution for allotment of Bonus Equity Shares of Rs. of Rs. 10/- (Rupees Ten only) for each person whose names are entered in the Register of Members/Register of Beneficial Owners on the “Registration Date” to be determined by the Board for the purpose in the ratio of 5:1 i.e. 5 (Fifth) new fully paid share of Rs. 10/- (Rupees ten only) for every 1 (One) existing fully paid up capital share of Rs. 10 rupees (total ten rupees) each belonging to them.

Since the release of bonus shares has resulted in the Shakti Pump share price reaching a 1-year/52-week high. ₹860.22 on November 10, the company also reported decent second-quarter results.

Decent results for the second quarter – Shakti Pumps reports earnings ₹634.59 crore increased 4 times ₹152.78 crore in the previous year quarter. Consolidated net profit in ₹101.42 crrre also increased several times from ₹5.84 crores for the previous year quarter.

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