Shakti Pumps, NCC & KEC International soar up to 8% as govt clears Rs 8.7 lakh crore Jal Jeevan Mission extension – News Air Insight

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Shares of Shakti Pumps, NCC and KEC International, among others, rallied up to 8% on Wednesday after the Union Cabinet approved an extension of the Jal Jeevan Mission until 2028, with the total programme outlay pegged at Rs 8.69 lakh crore. The Centre’s contribution under the scheme has been raised to Rs 3.59 lakh crore from Rs 2.1 lakh crore allocated in 2019–20, while the remaining funding will be provided by state governments

Shakti Pumps was the biggest gainer, surging 8%, followed by NCC, which advanced 6% in morning trade. Shares of KEC International rose 3% to their day’s high of Rs 551 on the BSE.

In November last year, the central government had suspended fresh disbursements under the Jal Jeevan Mission after uncovering widespread corruption in its implementation across states. The move delayed payments to several engineering, procurement and construction (EPC) companies.

Here’s the full list:
Kalpataru Projects

Kalpataru Projects currently has a total order book of about Rs 64,600 crore, of which nearly Rs 8,400 crore is linked to the Jal Jeevan Mission. During its most recent earnings call, the company’s management indicated that collections in the water segment have begun to improve, especially from the Uttar Pradesh Jal Jeevan Mission, since January this year.

KEC International
KEC International has an overall order book of Rs 39,300 crore, with approximately Rs 1,600 crore coming from Jal Jeevan Mission-related projects.

NCC
NCC’s total order book stands at Rs 71,900 crore, with Rs 700 crore attributed to projects under the Jal Jeevan Mission.
Other companies that could benefit from the extension include L&T, Welspun Enterprises, PNC Infratech, Dilip Buildcon and Afcons Infra.

The decision is also expected to support pump manufacturers such as Shakti Pumps, KSB and Kirloskar Brothers, as well as pipe makers including Finolex Industries, Astral, Prince Pipes and Supreme Industries.

Jal Jeevan Mission 2.0 will introduce a uniform national digital framework called “Sujalam Bharat”, enabling digital mapping of water supply assets and improving monitoring of service delivery. The programme will also provide technical and financial support to Gram Panc

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)



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