Multibagger PSU Stock Below Rs 101 Inks Pact With Uttarakhand Power Corporation

Miniratna public sector undertaking SJVN Ltd on January 5 informed via its BSE filing that its wholly owned subsidiary, SJVN Green Energy Limited ("SGEL") signed a Power Usage Agreement ("PUA") with Uttarakhand Power Corporation Limited ("UPCL"). Last trading price of SJVN Ltd share on BSE is Rs 94.87 per share with intraday surge of 0.85% as on January 5, 2023. SJVN Ltd shares soared 116% in last 6-months span and surged 174% in last 1-year only. The company has a market capitalisation of Rs 37,281.97 crore. Check details below:

SJVN Ltd Signs PUA With Uttarakhand Power Corporation Limited: The BSE filing further stated, "The PUA has been signed for 200 MW Solar Power capacity to be supplied to UPCL from the under construction 1,000 MW Bikaner Solar Power Project ("BSPP"). This solar project is being developed by Company's wholly owned subsidiary i.e., SGEL in the state of Rajasthan under CPSU Scheme of IREDA. The development cost of the project is Rs 5,491 crores. The project is being developed under the Domestic Content Requirement mode and is scheduled to be commissioned by April 2024. The power generated from the project will be used by government entities, either directly or through DISCOMS. This development will contribute towards meeting solar RPO targets and addressing the power deficit."

SJVN Ltd Stock Performance & Return: The 52-week high price of SJVN Ltd share on BSE is Rs 100.40 per share and 52-week low price is Rs 30.39 per share, respectively. SJVN Ltd shares offered shareholders attractive returns. In last 3-months, SJVN shares jumped 30%, gained 216% in last 2-years, and offered return of 268% in last 3-years.

SJVN Ltd About: It is a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of Ministry of Power, Govt. of India, 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 now a listed Company having shareholders pattern of 55.00% with Govt. of India, 26.85% with Govt. of Himachal Pradesh and rest of 18.15% with Public. SJVN is presently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and Madhya Pradesh in India besides neighboring country of Nepal, according to its official website.

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The stock highlights about signing PUA with Uttarakhand Power Corporation Limited and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.