Power Sector Miniratna Company Allotted 5 Projects More Than Rs 50,000 Crore; Stock Surges Over 14%

The shares of SJVN Ltd. hit an all-time 52-week high on Monday after the company signed Rs 50,000 crore 5 projects totalling 5097 MW from the Govt. Of Arunachal Pradesh. The 5 projects allocated are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MWAmulin and 400 MW Mihumdon, These projects are located in Dibang Basin.

In an exchange filing, SJVN Ltd. said, " the Government of Arunachal Pradesh has allotted five projects totalling 5097 MW to the Company. The Projects allocated are 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MWAmulin and 400 MW Mihumdon. All the five projects are located in Dibang Basin, which will result in optimal resources utilization and timely completion of projects. The development of these projects will involve an investment of more than ₹50,000 crores, while construction of these projects will reduce carbon emission in tune of around 1.1 million tonnes per year."

It added, "The Company is committed to achieve 25 GW of generation capacity by end of current decade, more than half of which is bound to come from renewable resources. With a total project portfolio of 55,527 MW, the Company is on rapid progression to achieve its Shared Vision of 5,000 MW by 2023-24, 25,000 MW by 2030 and 50,000 MW Company by 2040. This shared vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030."

Stock Movement

On Monday, the stock of SJVN opened at Rs 52.65 apiece. It closed 14.05% higher at Rs 57.14 apiece with an intraday high of 59.80 apiece and an intraday low of Rs 52.65 apiece on BSE.

The stock gained 22.96% in 1 week, 21.60% in 2 weeks, and 44.84% in 1 month, respectively. It gained 71.39% in 3 months, and 67.08% in 6 months, respectively.

The stock gained 101.20% in the past 1 year, 110.46% in 2 years, 157.39% in 3 years, and 110.46% in 5 years, respectively.

The stock has a 52-week high of Rs 57.20 and a 52-week low of Rs 29.90. The company has a market capitalisation of Rs 24.454.85 Crore.

About - SJVN Ltd.

SJVN Limited, a Mini Ratna, Category-I and Schedule -'A' CPSE under administrative control of the 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 59.92 % with Govt. of India, 26.85% with Govt. of Himachal Pradesh and the rest of 13.23 % with the Public. It has a market price of Rs 22,454.85 Crore.