SJVN surges on signing MoU with MAHAGENCO
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SJVN is currently trading at Rs. 39.79, up by 1.36 points or 3.54% from its previous closing of Rs. 38.43 on the BSE.
The scrip opened at Rs. 39.00 and has touched a high and low of Rs. 40.64 and Rs. 38.86 respectively. So far 3231789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 42.25 on 05-Dec-2022 and a 52 week low of Rs. 25.55 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 40.64 and Rs. 36.31 respectively. The current market cap of the company is Rs. 15679.88 crore.
The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 5.82% and 7.41% respectively.
SJVN has signed a Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company (MAHAGENCO) for development of 5,000 MW Renewable Energy Projects in the state of Maharashtra. The MoU has been signed to explore the feasibility of setting up various renewable projects in Maharashtra, which includes Hydro, Pumped Storage, Wind, Solar, Hybrid and Green Hydrogen Projects.
Further, the company & MAHAGENCO will jointly participate in tenders floated by Government of Maharashtra for renovation and modernization of small Hydro Power stations which are operated and maintained by MAHAGENCO.
With signing of this MoU, the company now has a project portfolio of 54,065 MW, with 2,091.5 MW under operation, while rest is in various stages of development and is marching ahead to achieve the Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 & 50,000 MW capacity by 2040.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
