BUY Miniratna PSU Power Stock SJVN For Target Price Rs 167, 19% Potential Upside Seen: Prabhudas Lilladher

Brokerage Prabhudas Lilladher said, "the stock has been in consolidation for quite some time and currently with a positive bullish candle formation on the daily chart has move decisively moved past the significant 50EMA level of 132 zone to improve the bias and with the RSI on the rise indicating a trend reversal has signaled a buy."

The brokerage added, "With the chart formation looking technically good, we suggest to buy the stock for upside targets of 148 and 167 levels in the coming days with stop loss to be maintained near 128 level."

SJVN Limited, 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. The present paid up capital and authorized capital of SJVN is Rs. 3,929.80 Crore and Rs. 7,000 Crore respectively. The Net Worth as on 31.03.2023 is Rs.13821.97 Crore.

Beginning with a single project and single State operation (i.e. India's largest 1500 MW Nathpa Jhakri Hydro Power Station in Himachal Pradesh), the Company has commissioned thirteen projects totaling 2377 MW of installed capacity and 123 km Transmission Line. 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.