Oswal Pumps saw its shares climb almost 4% on the BSE after the company announced a major new solar‑pump project worth about ₹180 crore.
Key contract details
On December 24, the company received an empanelment letter from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The agreement covers:
- Supply of 6,500 off‑grid DC solar photovoltaic water pumping systems (SPWPS) under the PM KUSUM‑B scheme.
- Project value of roughly ₹180 crore.
- Implementation within one year, with the empanelment valid for that period.
Scope of work
The contract includes design, manufacturing, transport, installation, testing, commissioning, a full system warranty, maintenance, and remote monitoring for each pump. Pump capacities range from 3 HP to 7.5 HP and will be placed at farmer sites across Maharashtra.
Share price reaction
Oswal Pumps opened at ₹532.40, up from the previous close of ₹530.75, and peaked at ₹549.80, marking a 3.6% intraday rise. The move reflects investor optimism about the new revenue stream.
Company background
The small‑cap stock was listed on Indian exchanges on June 20. It debuted at ₹634 on the NSE (a 3.2% premium to the issue price of ₹614) and at ₹632 on the BSE (a 2.9% premium).
Recent performance snapshot
- December: down about 2% so far.
- November: fell 24%.
What this means for investors
The contract could add a steady, high‑value order book for Oswal Pumps, potentially improving its earnings outlook and attracting more interest to the small‑cap space. However, the company remains subject to execution risks and broader market volatility.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider consulting a certified financial advisor before making any investment decisions.