Why Shakti Pumps shares are rising 11% today amid Sensex, Nifty rally? Buy for more returns? Target, upside, rationale

What happened: Shakti Pumps shares surged as much as 11% in Wednesday's session, opening at ₹359 versus the previous close of ₹355.80. The report notes there was no fundamental trigger behind the rally. Key numbers: Around 95.32 lakh shares changed hands on NSE intraday. Why it matters: Choice Broking said it remains cautious on the stock pending announcement of a renewed KUSUM scheme, and revised its target to ₹410 from ₹640. The stock is down 46.50% year-to-date.

Shakti Pumps shares surged as much as 11% in Wednesday's session, opening at ₹359 versus the previous close of ₹355.80. The report notes there was no fundamental trigger behind the rally.

Choice Broking said it remains cautious on the stock pending announcement of a renewed KUSUM scheme, and revised its target to ₹410 from ₹640. The stock is down 46.50% year-to-date.