Shares of pump and pipe manufacturing companies surged up to 20% on Wednesday after the government approved the extension and restructuring of the Jal Jeevan Mission until December 2028.
Denta Water and Infra Solutions shares were locked in the 20% upper circuit, while Shakti Pumps India shares jumped 19.2% and Vishnu Prakash R Punglia share price advanced 18.4%.
Other notable gainers included SPML Infra, Indian Hume Pipe Company, and Enviro Infra Engineers, which surged more than 16% each. Meanwhile, Om Infra and VA Tech Wabag shares rose about 10% each, while Apollo Pipes and Man Industries (India) shares gained around 7% apiece.
On Tuesday, the Union Cabinet approved a total outlay of ₹8.69 lakh crore for the Jal Jeevan Mission, increasing the Centre’s share to ₹3.59 lakh crore from ₹2.08 lakh crore in 2019–20.
“This transition represents a massive shift from simple infrastructure creation to a citizen-centric, utility-based service delivery model. For partners and stakeholders, this evolution opens significant opportunities in digital infrastructure, sustainable maintenance, and professionalized water governance,” said analysts at Choice Institutional Equities.
According to the brokerage, the focus is no longer just on laying infrastructure but on ensuring its long-term viability and performance.
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Choice Broking believes the extension of the Jal Jeevan Mission will have a positive impact on two companies under its coverage — Man Industries and Apollo Pipes.
Man Industries (India): The company manufactures large-diameter LSAW and HSAW steel pipes used for high-pressure transmission pipelines for oil, gas, and water projects.
Historically the company depended heavily on oil & gas exports, but water infrastructure is becoming an important domestic demand driver. However, water pipeline projects have lower margins, so Jal Jeevan Mission 2.0 provides volume growth but not necessarily margin expansion, Choice Broking said.
Apollo Pipes: Apollo Pipes manufactures PVC and CPVC pipes, HDPE piping systems and fittings & plumbing products, sits in the last-mile water distribution layer. Government water infrastructure programs including Jal Jeevan Mission 2.0 are a major growth driver for the plastic pipe industry, which is expected to cross ₹1 lakh crore by 2030, Choice Broking said.
Moreover, Apollo Pipes acquired a controlling stake in Kisan Mouldings Ltd., expanding its product portfolio and pipe distribution network, strengthening its ability to capture infrastructure demand.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
