SJVN surges on bagging contract from Rajasthan Urja Vikas Nigam

SJVN is currently trading at Rs. 38.30, up by 0.71 points or 1.89% from its previous closing of Rs. 37.59 on the BSE.

The scrip opened at Rs. 38.25 and has touched a high and low of Rs. 38.66 and Rs. 37.99 respectively. So far 492239 shares were traded on the counter.

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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. 25.45 on 26-May-2022.

Last one week high and low of the scrip stood at Rs. 39.28 and Rs. 35.18 respectively. The current market cap of the company is Rs. 15129.71 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 bagged 100 MW at Rs 2.62/Unit on Build Own and Operate (BOO) basis under Open Competitive Tariff bidding process followed by e-Reverse Auction on May 4, 2023 by Rajasthan Urja Vikas Nigam (RUVNL).

The project is expected to generate 252 MU in the 1st year and the project cumulative energy generation over a period of 25 years would be about 5,866 MU. Commissioning of this Project is expected to reduce 2,87,434 tonnes of carbon emission and would contribute in GoI mission of reduction in carbon emission. The cost of construction / development of this project shall be around Rs 600 crore.

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