09 Aug 2024

SJVN Sees Gains with 90 MW Omkareshwar Floating Solar Project Launch

SJVN's stock is trading at Rs. 141.00, an increase of 1.25 points or 0.89% from its previous close of Rs. 139.75 on the BSE.

The stock opened at Rs. 142.00 and reached a high of Rs. 142.80 and a low of Rs. 140.90. A total of 156,348 shares have been traded so far.

This BSE group 'A' stock with a face value of Rs. 10 hit a 52-week high of Rs. 170.45 on February 5, 2024, and a 52-week low of Rs. 53.51 on August 10, 2023.

Over the past week, the stock peaked at Rs. 143.55 and hit a low of Rs. 135.00. The company's market capitalization currently stands at Rs. 55,488.71 crore.

Promoters hold 81.85% of the company, while institutions and non-institutions hold 6.33% and 11.83% respectively.

SJVN has successfully commissioned the 90 MW Omkareshwar Floating Solar Project, executed by its subsidiary SJVN Green Energy (SGEL). This new project raises the company's total installed capacity to 2,466.50 MW. Located in the Omkareshwar Floating Solar Park in Khandwa, Madhya Pradesh, it is one of the largest floating solar projects in Central and North India, marking the company's entry into the floating solar power sector.

Developed at a cost of Rs. 646.20 crore, the project is expected to generate 196.5 million units of energy in its first year, with a cumulative generation of 4,629.3 million units over 25 years. This is projected to boost the company's revenue by Rs. 64 crore. SJVN's total project portfolio now stands at 56,802.40 MW, with projects in hydro, pumped storage, thermal, and renewable energy sectors.

SJVN's primary business is electricity generation, and it also provides consultancy services.