Shares of pipe, pumps and engineering procurement and construction (EPC) companies surged sharply in volatile trading 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. According to reports from The Hindu BusinessLine, 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.
Among the top gainers, Shakti Pumps rallied 19% to ₹583.30 on the National Stock Exchange, nearing their upper circuit limit of ₹587.90 compared with the previous close of ₹489.95. As reported by The Hindu BusinessLine, Oswal Pumps, Roto Pumps and KSB Pumps also rallied significantly, while Jain Irrigation Systems climbed over 13% to ₹23.25. VA Tech Wabag advanced 10% to ₹1,318.80, and Astral shares hit a fresh 52-week high of ₹1,709.50 on the NSE.
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. According to The Hindu BusinessLine, engineering and construction major NCC rose 6% to ₹155, benefiting from expectations of increased EPC contract awards linked to large-scale water infrastructure rollout. The enhanced mission outlay represents a significant boost for companies positioned to benefit from India's rural water infrastructure development initiatives.
