SJVN rises as its arm signs MoU with Grid Corporation of Odisha
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SJVN is currently trading at Rs. 39.70, up by 0.40 points or 1.02% from its previous closing of Rs. 39.30 on the BSE.
The scrip opened at Rs. 39.90 and has touched a high and low of Rs. 40.30 and Rs. 39.60 respectively. So far 570192 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.60 on 28-Nov-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. 41.60 and Rs. 38.40 respectively. The current market cap of the company is Rs. 15640.58 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.79% and 6.43% respectively.
SJVN’s wholly owned subsidiary -- SJVN Green Energy has signed a Memorandum of Understanding (MoU) with Grid Corporation of Odisha for developing 1000 MW Hydro Electric Projects and 2000 MW Solar Power Projects in Odisha by incorporating a Joint Venture Company.
The development of these projects will attract an investment of Rs 20,000 crore and is expected to generate 4207 million units (MUs) in first year and a cumulative generation of around 96797 MUs over a period of 25 years. It will also result in the reduction of around 206143 tonnes of carbon emission in the first year and 4743053 during its entire life span.
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.
