SJVN rises on signing MoA with Government of Arunachal Pradesh
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SJVN is currently trading at Rs. 56.30, up by 0.65 points or 1.17% from its previous closing of Rs. 55.65 on the BSE.
The scrip opened at Rs. 56.37 and has touched a high and low of Rs. 56.65 and Rs. 54.80 respectively. So far 1359219 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. 57.50 and Rs. 52.69 respectively. The current market cap of the company is Rs. 22136.54 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 signed Memorandum of Agreement (MoA) with Government of Arunachal Pradesh for executing five hydro power projects of 5097 MW. Five projects are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin and 400 MW Mihumdon. Further, 3097 MW Etalin HEP is the largest hydro project under development in India. The construction of these projects shall involve total investment of around Rs 50,000 crore and would add over 20,652 million units of electricity generation annually to the nation’s capacity.
The projects on completion would usher in an era of overall socio-economic development in the state of Arunachal Pradesh by strengthening infrastructure such as roads & bridges, community assets, health care services, women empowerment, skill development & education, generating multiple avenues of employment, sustainable development etc along with added benefits to Project Associated Families.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
