SJVN rises on entering into MoU with DVC

SJVN Ltd. | Power Generation/Distribution | Power | BSE: 533206 | NSE: SJVN

24 Dec 2021 Evaluate

SJVN is currently trading at Rs. 28.45, up by 0.05 points or 0.18% from its previous closing of Rs. 28.40 on the BSE.

The scrip opened at Rs. 28.90 and has touched a high and low of Rs. 28.90 and Rs. 28.45 respectively. So far 53156 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.80 on 19-Oct-2021 and a 52 week low of Rs. 24.50 on 12-Apr-2021.

Last one week high and low of the scrip stood at Rs. 28.90 and Rs. 27.10 respectively. The current market cap of the company is Rs. 11160.62 crore.

The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 7.46% and 5.77% respectively.

SJVN has entered into Memorandum of Association (MoU) with Damodar Valley Corporation (DVC) for harnessing 2000 MW floating solar energy projects in their command areas. As per MoU, SJVN and DVC will jointly identify suitable water bodies and available land under the SJVN and DVC command areas for setting up renewable power projects.

DVC has large water bodies under its management, which can be harnessed for solar power by setting up floating solar energy farms.

SJVN is engaged in hydroelectric power generation originally established as a joint venture between the government and the state government of Himachal Pradesh to develop and operate the Nathpa Jhakri Hydro Power Station (NJHPS).