SJVN gains on inking MoU with Sikkim Urja for power trading
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SJVN is currently trading at Rs. 57.88, up by 0.50 points or 0.87% from its previous closing of Rs. 57.38 on the BSE.
The scrip opened at Rs. 58.50 and has touched a high and low of Rs. 59.30 and Rs. 57.75 respectively. So far 860387 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 12-Aug-2022.
Last one week high and low of the scrip stood at Rs. 59.30 and Rs. 54.08 respectively. The current market cap of the company is Rs. 22769.23 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.72% and 7.51% respectively.
SJVN has inked a Memorandum of Understanding (MOU) with Sikkim Urja (SUL) to trade 180 MW hydro power from SUL’s 1200 MW Teesta-III hydro electric project in Sikkim to distribution licensees and open access consumers. This will be Company’s first venture in the state of Sikkim.
Central Electricity Regulatory Commission has granted Category-I power trading license for interstate trading of electricity to the Company and would also aid the company in focusing on addressing seasonal and regional variance of demand & supply and fulfilling the power supply demand.
At present, the project portfolio of the Company is 55,814 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 installed capacity by 2040. SJVN is also playing pivotal role in achieving the target of 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.
