Shares of SJVN Ltd gained over 3% intraday today after the 75MW Gurhah solar power plant in Uttar Pradesh went on stream. SJVN stock rose 3.52% to a high of Rs 94.15 on BSE. Market cap of the firm rose to Rs 36,480 crore.
A total of 14.68 lakh shares changed hands amounting to a turnover of Rs 13.63 crore on BSE. Later, it closed 2.24% higher at Rs 92.98 on BSE.
SJVN shares have a beta of 0.2, indicating very low volatility in a year. The stock hit a 52 week low of Rs 30.39 on March 27, 2023 and a 52 week high of Rs 100.40 on December 15, 2023.
In terms of technicals, the relative strength index (RSI) of the stock stands at 56.1, signaling it’s trading neither in the overbought nor in the oversold zone. SJVN shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The multibagger stock has gained 127% in six months and risen 171% this year.
SJVN Green Energy, a subsidiary of SJVN, has successfully launched the Gurhah solar power project in Jalaun, Uttar Pradesh, generating 75 megawatts. They secured this project at a rate of Rs 2.98 per unit. The agreement for power purchase, spanning 25 years, has been finalized with Uttar Pradesh Power Corporation (UPPCL).
“SJVN Green Energy Limited had bagged this 75 MW Solar Power Project at a tariff of Rs 2.98 per unit through Competitive Tariff bidding conducted by Uttar Pradesh New & Renewable Development Agency (UPNEDA). Power Purchase Agreement for the same has been signed with Uttar Pradesh Power Corporation Limited (UPPCL) for 25 years. Cost of Construction / Development of this project is Rs 408.42 crore. The project will generate 159.77 Million Units (MU) in the first year and the estimated cumulative energy generation over a period of 25 years shall be 3716 Million Units (MU). This will further result into revenues of around Rs. 48 crore per annum. With commissioning of this Gurhah Solar Power Project, the total installed capacity of SJVN is now 2227 MW, said the power generating firm.
On December 29, the state-owned firm secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders.
The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement .
According to the statement, SJVN has secured Rs 10,000 crore ($1.2 billion) construction finance facility to fund its upcoming renewable power projects from a group of leading domestic and international lenders.
SJVN Limited is engaged in the business of generation of electricity and the tariff for power generation. The company manufactures and provides three key products and services: generation of electricity (hydro, wind and solar), consultancy and transmission. Its businesses include thermal power, hydro power, wind power, solar power, power transmission, consultancy and power trading.
