Shakti Pumps (India) jumped 9.55% to Rs 218.55 at 12:09 IST on BSE, after Franklin Templeton Mutual Fund bought 2.19% stake in the company on Tuesday, 18 November 2014.
Meanwhile, the S&P BSE Sensex was up 21.76 points or 0.08% at 28,185.05
On BSE, so far 2.83 lakh shares were traded in the counter as against average daily volume of 64,013 shares in the past one quarter.
The stock hit a high of Rs 224 and low of Rs 209 so far during the day. The stock hit a record high of Rs 279.80 on 9 September 2014. The stock had hit a 52-week low of Rs 56.70 on 21 November 2013.
The stock had underperformed the market over the past one month till 18 November 2014, sliding 17.56% compared with the Sensex's 7.87% rise. The scrip had also underperformed the market in past one quarter, falling 4.98% as against Sensex's 6.72% rise.
The small-cap company has equity capital of Rs 15.24 crore. Face value per share is Rs 10.
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Franklin Templeton Mutual Fund under its Franklin India Prima Plus scheme bought 2.27 lakh shares of Shakti Pumps (India) at an average price of Rs 193.82 per share in a bulk deal on NSE on Tuesday, 18 November 2014. Reliance Wealth Management sold 79,513 shares at an average price of Rs 191.79 per share in a bulk deal on NSE on Tuesday, 18 November 2014. In a separate bulk deal, Franklin Templeton Mutual Fund bought 1.06 lakh shares at an average price of Rs 194.54 per share in a bulk deal on BSE on Tuesday, 18 November 2014.
Shakti Pumps (India)'s net profit dropped 44.4% to Rs 3.35 crore on 27.3% growth in net sales to Rs 55.71 crore in Q2 September 2014 over Q2 September 2013.
Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.
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