SJVN spurts on inking MoU for 490 MW Arun 4 hydro power project in Nepal
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SJVN is currently trading at Rs. 27.95, up by 0.65 points or 2.38% from its previous closing of Rs. 27.30 on the BSE.
The scrip opened at Rs. 28.20 and has touched a high and low of Rs. 28.20 and Rs. 27.70 respectively. So far 171979 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.80 on 19-Oct-2021 and a 52 week low of Rs. 25.35 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 28.20 and Rs. 26.65 respectively. The current market cap of the company is Rs. 10944.48 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.65% and 6.59% respectively.
SJVN has inked MoU for development of 490 MW Arun-4 project in Nepal. The project will be developed in JV mode by the company and Nepal Electricity Authority (NEA) with the company having majority share and is expected to generate around 2100 million units of energy per annum. The expected cost of this project situated in Sankhuwasabha District Province - 1 of Nepal is Rs 4900 crore. This is the 3rd project of the company on Arun River basin. Two other projects, i.e., 900 MW Arun-3 and 669 MW Lower Arun are already being developed by the company. With signing of this MoU, the company will have portfolio of three projects in Nepal having total capacity of 2059 MW.
These projects will assist the company in achieving its ambitious shared vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 500 GW by 2030 set by Government of India.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
