Shimla: With a bull run in the stock market making fresh highs this week, SJVN – the public sector power company, hit an all-time high at Rs 50.15 in intraday trade on Wednesday before settling at Rs 48.70 by the end of trade time on NSE.
Just shy of 20,000, Nifty50 settled at 19,833.15, a fresh high for the indices and Sensex also settled at a fresh high of 67,097.44.
SJVN made its all-time high with good volumes, indicating that the stock could scale further.
Earlier in the day, Sh Nand Lal Sharma, Chairman-cum-Managing Director SJVN stated that SJVN Green Energy Limited, a wholly owned subsidiary of SJVN, had signed a power purchase agreement (PPA) for 300 MW of renewable power.
The PPA was signed with Maharashtra State Electricity Distribution Co for 200 MW solar power and for 100 MW wind power with Solar Energy Corporation of India. The agreements were signed in Delhi.
The power to Maharashtra would be supplied from a ground mounted solar project being developed at a cost of about Rs 1,200 crore, the tariff of which was secured through a competitive bidding process of Rs 2.90 per unit. The project is on schedule to be commissioned by December 2024.
The wind power plant is being developed at a cost of Rs 750 crore, will have a tariff of Rs 2.90 per unit and is expected to be commissioned by March 2025.
On Monday, (17th July, 2023) SJVN at its two operational hydropower plants, the 1500 MW Natpha Jhakri Hydropower Plant and the 412 MW Rampur Hydropower Plant recorded its highest ever single day power generation of 50.498 Million Units (MU). The Jhakri Plants new record single day generation registered was 39.527 MU and that of the Rampur Plant was 10.971 MU.
“Our achievements are the result of efficient management, optimum operation & maintenance practices as well as proper repair and maintenance of the project components which has contributed in achieving maximum efficiency and productivity,” said Sh. Sharma.
Since being publicly listed on the stock exchanges in June 2010 as a hydropower company, SJVN has expanded its business portfolio to venture into thermal power, solar power, wind power, electricity transmission and has also gone into Nepal, becoming one of the largest Indian companies developing hydropower projects in the Himalayan country.
SJVN is a joint venture company with promotors Government of India holding 59.92% shareholding and Government of Himachal Pradesh having 26.85% holding. Of the remaining, 7.50% is held by the public, 4.32% by Domestic Institutional Investors and 1.4% by Foreign Institutional Investors, the June 2023 filings show.
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In a career spanning over two decades through all formats of journalism in Electronic, Print and Online Media, he brings with him enough experience to steer this platform. He lives in Shimla.
