Shares of pipe, pumps and engineering procurement and construction (EPC) companies surged sharply in a volatile market on Wednesday after the Union Cabinet approved the extension of the Jal Jeevan Mission until December 2028 with a significantly enhanced outlay of ₹8.7 lakh crore.
The decision is aimed at accelerating rural drinking water infrastructure across the country and is expected to drive large-scale order inflows for companies linked to water management and pipeline infrastructure.
Brokerage firm SBI Securities said the move is positive for several companies in the pipes, pumps and EPC segments, citing strong business potential and improved revenue visibility.
Among the top gainers, shares of Shakti Pumps rallied 19 per cent to ₹583.30 on the National Stock Exchange, nearing their upper circuit limit of ₹587.90 compared with the previous close of ₹489.95. Oswal Pumps, Roto Pumps and KSB Pumps also rallied significantly.
Jain Irrigation Systems also witnessed strong buying momentum, with the stock climbing over 13 per cent to ₹23.25.
Shares of VA Tech Wabag advanced 10 per cent to ₹1,318.80.
Astral shares hit a fresh 52-week high of ₹1,709.50 on the NSE.
Engineering and construction major NCC rose 6 per cent to ₹155, benefiting from expectations of increased EPC contract awards linked to large-scale water infrastructure rollout.
(This is a developing story)