SJVN rises as its arm bags 200 MW solar project
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
SJVN is currently trading at Rs. 123.25, up by 2.35 points or 1.94% from its previous closing of Rs. 120.90 on the BSE.
The scrip opened at Rs. 123.85 and has touched a high and low of Rs. 125.65 and Rs. 121.95 respectively. So far 710378 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 170.45 on 05-Feb-2024 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. 127.55 and Rs. 114.95 respectively. The current market cap of the company is Rs. 48139.99 crore.
The promoters holding in the company stood at 81.85%, while Institutions and Non-Institutions held 7.65% and 10.51% respectively.
SJVN’s wholly owned subsidiary -- SJVN Green Energy (SGEL) has bagged a 200 MW solar project in an e-Reverse auction conducted by Gujarat Urja Vikas Nigam (GUVNL). This project is to be developed by SJVN Green Energy on a build-own-and-operate basis at the tentative development cost of Rs 1,100 crore.
The project is expected to generate about 504 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 11,732 MUs. As per Request for Selection (RfS), the project will be commissioned in 18 months from the date of signing of the power purchase agreement, which would be signed between GUVNL and SGEL for 25 years. The commissioning of this project is expected to reduce 5,74,868 tonnes of carbon emissions.
SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.
