SJVN moves up as its arm signs MoU with APDCL
SJVN is currently trading at Rs. 32.50, up by 0.25 points or 0.78% from its previous closing of Rs. 32.25 on the BSE.
The scrip opened at Rs. 32.60 and has touched a high and low of Rs. 32.85 and Rs. 32.40 respectively. So far 76934 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.95 on 06-Oct-2022 and a 52 week low of Rs. 25.45 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 33.00 and Rs. 32.00 respectively. The current market cap of the company is Rs. 12673.59 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.35% and 6.88% respectively.
SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) has signed Memorandum of Understanding (MoU) with Assam Power Distribution Company (APDCL) at Guwahati. The MoU has been inked for developing 1000 MW Floating Solar Power Projects in Assam by incorporating a Joint Venture Company.
The project will generate 2192 Million Units in first year after commissioning and around 50425 Million Units cumulative energy will be generated over 25 years. An investment of Rs 6000 Crores will be made by SJVN in the state for developing the project.
The company has aligned its Shared Vision of 5000 MW by 2023, 25000MW by 2030 & 50000 MW capacity by 2040 with that of Government of India’s target of achieving 50% energy from non-fossil fuel sources by 2030. As a strategic & reliable partner, SJVN plans to play a vital role in clean energy transition of the nation.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
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