SJVN Ltd Shares Soar 6% on Rs 48,000-Crore MoUs with Maharashtra Govt for Renewable Energy Projects
SJVN Ltd has signed two MoUs with the Maharashtra government for the development of Pumped Storage Projects and Floating Solar Projects, estimated to generate 8400 direct and indirect employment opportunities.
Sjvn LtdMaharashtra GovtRenewable EnergyPumped Storage ProjectsFloating Solar ProjectsReal Estate MaharashtraSep 27, 2024
The total estimated investment on these projects will be Rs 48,000 crore and will generate approximately 8400 direct and indirect employment opportunities.
The multibagger stock rose 5.71% to Rs 133.20 in the current session on BSE. Market cap of the firm stood at Rs 52,266 crore. A total of 21.35 lakh shares changed hands amounting to a turnover of Rs 27.89 crore on BSE.
SJVN shares have a beta of 1.7, indicating very high volatility in a year. The stock fell to a 52 week low of Rs 63.38 on October 26, 2023 and climbed to a 52-week high of Rs 170.45 on February 5, 2024.
In terms of technicals, the relative strength index (RSI) of the stock stands at 36.2, signaling it's trading neither in the overbought nor in the oversold zone. SJVN shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 150 day, 200 day but lower than the 50 day and 100 day moving averages.
The multibagger stock has gained 319% in two years and risen 90% in a year. In five years, the stock has risen 441%.
The first MoU was inked between SJVN and Department of Water Resources, Government of Maharashtra, for development of five Pumped Storage Projects of total capacity of 8100 MW. The second MoU was signed between SJVN and Maharashtra State Power Generation Company (MAHAGENCO) for the development of 505 MW Floating Solar Project at Lower Wardha Dam in Maharashtra.
About SJVN Limited SJVN Limited is engaged in the business of generation of electricity and the tariff for power generation. The company manufactures and provides three key products and services generation of electricity (hydro, wind and solar), consultancy and transmission. Its businesses include thermal power, hydro power, wind power, solar power, power transmission, consultancy and power trading.
Information Maharashtra is one of the largest states in India, with a high demand for renewable energy. The state government has been actively promoting the development of renewable energy projects, including solar and wind power, to reduce its dependence on fossil fuels.
SJVN Limited is a leading power generation company in India, with a strong focus on renewable energy. The company has a portfolio of hydro, wind, and solar power projects across the country and is committed to reducing its carbon footprint.
Frequently Asked Questions
What is the estimated investment for the Pumped Storage Projects and Floating Solar Projects in Maharashtra?
The total estimated investment for the projects is Rs 48,000 crore.
How many employment opportunities are expected to be generated by the projects?
The projects are expected to generate approximately 8400 direct and indirect employment opportunities.
What is the current market cap of SJVN Ltd?
The current market cap of SJVN Ltd is Rs 52,266 crore.
What is the beta of SJVN shares?
The beta of SJVN shares is 1.7, indicating very high volatility in a year.
What is the RSI of SJVN shares?
The RSI of SJVN shares stands at 36.2, signaling it's trading neither in the overbought nor in the oversold zone.
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