Shakti Pumps, KSB Pumps up over 5% after GST rate cut

Shakti Pumps, Kirloskar Brothers, KSB Pumps and Roto Pumps have rallied by up to 12% on BSE in intra-day trade

Shares of pumps manufacturers such as Shakti Pumps (India), Kirloskar Brothers, KSB Pumps and Roto Pumps have rallied by up to 12% on BSE in intra-day trade after the Goods and Service Tax (GST) on pump parts has been reduced from 28% to 18%.

Among the individual stocks, Shakti Pumps (India) has rallied 12% to Rs 544 on BSE on back of heavy volumes. The trading volumes on the counter jumped more than five-fold with a combined 983,529 shares changed hands on the BSE and NSE till 10:51 am.

Shakti claims a market share of around 70%-80% in