SJVN moves up on receiving LoI for purchase of 200 MW solar power from UPCL
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SJVN is currently trading at Rs. 77.03, up by 0.53 points or 0.69% from its previous closing of Rs. 76.50 on the BSE.
The scrip opened at Rs. 77.34 and has touched a high and low of Rs. 78.53 and Rs. 76.84 respectively. So far 1166897 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 83.69 on 20-Sep-2023 and a 52 week low of Rs. 30.39 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 78.53 and Rs. 71.44 respectively. The current market cap of the company is Rs. 30412.68 crore.
The promoters holding in the company stood at 81.85%, while Institutions and Non-Institutions held 6.64% and 11.51% respectively.
SJVN has received a Letter of Intent (LoI) for purchase of 200 MW solar power from Uttarakhand Power Corporation (UPCL). UPCL intends to purchase 200 MW power at a tariff of Rs 2.57 per unit from Company’s 1,000 MW Bikaner Solar Project. The solar project is being developed through SJVN Green Energy, a wholly owned subsidiary of the Company in Rajasthan under CPSU Scheme, with viability gap funding support from Government of India. The power generated from the project shall be used by government entities, either directly or through DISCOMS.
The allocation of the solar power from the project will be as per Power Purchase Agreement to be signed between SGEL and UPCL in near future. This development will contribute towards meeting solar RPO targets and addressing the power deficit.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
