SJVN rises on buying land in Rajasthan to set up 1,000 MW solar power project

SJVN is currently trading at Rs. 28.85, up by 0.40 points or 1.41% from its previous closing of Rs. 28.45 on the BSE.

sjvn shines on reporting 3 fold jump in q4 net profit
sjvn shines on reporting 3 fold jump in q4 net profit

The scrip opened at Rs. 28.50 and has touched a high and low of Rs. 29.00 and Rs. 28.25 respectively. So far 140588 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. 29.40 and Rs. 28.20 respectively. The current market cap of the company is Rs. 11160.62 crore.

The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 6.35% and 6.88% respectively.

SJVN has purchased 2,043 acres of land to set up a 1,000 MW solar power project in Bikaner, Rajasthan. The project is scheduled to be commissioned in January 2024. The company through its renewable arm SJVN Green Energy (SGEL) has executed a land registry of about 2,043 acres of land for the development of the project.

In May this year, the company awarded the country’s single largest EPC contract for the 1,000 MW solar power project to Tata Power Solar Systems for a total value of Rs 5,491 crore. The 1,000 MW solar power project would generate 2,454.55 million units of electricity.

SJVN’s principal business activity is electricity generation. The company is also engaged in the business of providing consultancy.

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