SJVN gains on bagging five projects from Government of Arunachal Pradesh
SJVN is currently trading at Rs. 62.00, up by 4.86 points or 8.51% from its previous closing of Rs. 57.14 on the BSE.
The scrip opened at Rs. 60.00 and has touched a high and low of Rs. 62.75 and Rs. 59.39 respectively. So far 3075021 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 62.75 on 25-Jul-2023 and a 52 week low of Rs. 27.90 on 5-Aug-2022.
Last one week high and low of the scrip stood at Rs. 62.75 and Rs. 46.37 respectively. The current market cap of the company is Rs. 22454.85 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.72% and 7.51% respectively.
The Government of Arunachal Pradesh has allotted five projects totalling 5097 MW to SJVN. The Projects allocated are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin and 400 MW Mihumdon.
All the five projects are located in Dibang Basin, which will result in optimal resources utilization and timely completion of projects. The development of these projects will involve an investment of more than Rs 50,000 crore, while construction of these projects will reduce carbon emission in tune of around 1.1 million tonnes per year.
The Company is committed to achieve 25 GW of generation capacity by end of current decade, more than half of which is bound to come from renewable resources. With a total project portfolio of 55,527 MW, the Company is on rapid progression to achieve its Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 and 50,000 MW Company by 2040. This shared vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.