Multibagger Energy PSU Stock Below Rs 100 Jumps Over 9% On Signing MoU With PFC

The shares of SJVN Ltd. on Wednesday soars above 9% to hit a new 52-week high as it signs an MoU with PFC for financial aid to a diverse range of projects, primarily focusing on renewable energy and thermal generation. The term loan support is provisionally set at 70% of the project cost, with the option to raise as needed for renewable projects. The total cost of the project is anticipated to be about Rs 1,18,826 crore.

"PFC and the Company have signed a Memorandum of Understanding ("MOU") for financial assistance to various diversified portfolio of projects including majorly Renewable Energy projects and thermal generation project to be set up at total project cost of about ₹1,18,826 Crore," the company said in an exchange filing.

Further, "The term loan financial assistance is tentatively proposed at 70% of the project cost, which may be increased for renewable energy projects as per project requirements."

The shares of SJVN currently trading at Rs 82.10 apiece, up 7.24% from its previous close on the BSE. The stock hit its new 52-week high at Rs 83.69 apiece, while its 52-week low is Rs 29.90 apiece on the BSE.

The stock gained 8.18% in the past 1 week. The stock gained 46.09% in 1 month, 108.91% in 3 months, and 166.13% in 6 months, respectively. It has given a multibagger return of 153% in 1 year. It has given 201.28% strong returns in 2 years, 249.36% in 3 years, and 195.32% in 5 years. The market valuation of the stock is Rs 32,14572 Crore.

SJVN Limited is a Mini Ratna, Category-I and Schedule -'A' CPSE under the administrative control of the Ministry of Power, Govt. of India. The company was incorporated on May 24, 1988, as a joint venture of the Government of India (GOI) and the Government of Himachal Pradesh (GOHP). SJVN is a listed Company with a shareholders pattern of 59.92% with Govt. of India, 26.85% with Govt. of Himachal Pradesh, and the rest of 13.23% with the Public.