Share market update: Pump stocks gain as FM proposes setting up of 35 lakh water pumps; Shakti Pumps surges 12%

NEW DELHI: Shares of irrigation equipment markers jumped after the Finance Minister Nirmala Sitharaman in her Budget speech on Saturday proposed to help 15 lakh farmers solarise water pumps.

The finance minister also said the government will help 20 lakh farmers set up standalone pumps.

Shares of Shakti Pumps India (up 12.47 per cent), Jain Irrigation Systems (up 4.89 per cent) , Roto Pumps (up 4.76 per cent) , WPIL (up 4.47 per cent) , Rungta Irrigation (up 2.00 per cent) , Kirloskar Brothers (up 1.36 per cent) and KSB (up 0.79 per cent) were among the top gainers.


Meanwhile, Mahindra EPC Irrigation (down 0.45 per cent) were among the top losers.

The NSE Nifty50 index was trading 13.15 points up at 11,975.25, while the 30share BSE Sensex was up 57.78 points at 40781.27 at around 11:54 am.

Hindustan Unilever (up 2.09 per cent) , Maruti Suzuki (up 1.59 per cent) , Bajaj Finance (up 1.25 per cent) , Mahindra & Mahindra (up 1.18 per cent) , UltraTech Cement (up 1.13 per cent) , Asian Paints (up 0.82 per cent) , Tata Consultancy (up 0.56 per cent) , Hero MotoCorp (up 0.52 per cent) , Axis Bank (up 0.49 per cent) and Sun Pharmaceutical Industries (up 0.46 per cent) were among the top gainers in the Sensex pack.

On the other hand, NTPC (down 1.42 per cent) , Tech Mahindra (down 1.32 per cent) , Power Grid Corporation of India (down 1.26 per cent) , Oil & Natural Gas Corporation (down 1.19 per cent) , Tata Steel (down 0.89 per cent) , HCL Technologies (down 0.74 per cent) , Kotak Mahindra Bank (down 0.52 per cent) , IndusInd Bank (down 0.44 per cent) , Infosys (down 0.35 per cent) and State Bank of India (down 0.31 per cent) were trading in the red.