SJVN close to its high

SJVN is showing a lot of action today, with a 2-times rise in volumes and stock price rising over 7% to hit an intraday high at Rs.32.35. This is not too far from its 52-week high of Rs.33.80, hit on Oct’21.

The stock price has reacted positively today after it bagged two orders from the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for building 75 MW grid connected solar power project at Gurhah, in Jalaun District and 50 MW grid-connected solar power project at Gujrai, in Kanpur Dehat District in the state of Uttar Pradesh through tariff-based competitive bidding.

The mini-ratna PSU has quoted a tariff of Rs 2.98 per KWh for both these projects and power generated from these projects will be procured by UPNEDA for 25 years.

These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 12,000 MW by 2030 and 25,000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 175 GW by 2022 set by Government of India.