Monday, April 22, 2024
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HomeStocksMultibagger stock SJVN bags order of 1,352 MW

Multibagger stock SJVN bags order of 1,352 MW

About the Order

SJVN Ltd which is in the business of power generation today just before the market closer reported that the wholly owned subsidiary of the company which is SJVN Green Energy Limited (SGEL) has received a Letter of Award for a cumulative 1,352 MW of Solar Power Projects to be developed at various locations in the District of Nashik, Solapur, Ahmednagar & Pune Districts of Maharashtra under the Mukhya Mantri Saur Krushi Vahini Yojana.

These projects have been bagged by SGEL through competitive bidding by participation for 1,500 MW (500 MW in Round 1 and 1,000 MW in Round 2) tender floated by MSEB Agro Power Limited (MSAPL), Maharashtra for a total capacity of 7,000 MW. The aforesaid scheme was launched for the implementation of feeder-level solarisation under component C of the PM-KUSUM scheme.

Further, the total investment for the development of these 1352 MW solar power projects will be about Rs 7,436 crore which shall be SGEL’s first contribution towards the prestigious PM-KUSUM Scheme. These projects shall be eligible up to a maximum central financial assistance of 30% of the project cost.

Stock Performance

In the last trading session, the stock of SJVN closed at Rs 119.45. Today it opened at Rs 119.50 and closed at Rs 122.20, up by 2.30%. The company’s 52-week high stands at Rs 170.45, while its 52-week low stands at Rs 30.39. Currently, the company boasts a market capitalisation of approximately Rs 48,000 crore. In the past year, the company’s shares have yielded a staggering multibagger return of 270.86% and in the same time frame, BSE Utilities have changed by 106.54%.

About the SJVN

SJVN Limited is an Indian public sector undertaking which is engaged in the business of hydropower generation and transmission. It is a joint venture between the Government of India and the Government of Himachal Pradesh and was incorporated in 1988 as Nathpa Jhakri Power Corporation. SJVN is one of the largest hydropower companies in India and is committed to generating clean and green energy. The Company is on rapid progression to achieve its Shared Vision of 25,000 MW by 2030 & 50,000 MW by 2040.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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