SJVN share price: The stock tanked 5.2 per cent to hit a day low of Rs 118.50. Despite the mentioned drop, the multibagger scrip has gained 108 per cent in past six months and 265 per cent in a year.
On the daily chart of SJVN, we are observing a higher high formation, which is a sign of strength. Further, momentum indicator viz. MACD is positively poised.
SJVN Green Energy, a wholly-owned subsidiary of the company, had participated in the tariff-based competitive bidding process conducted by SECI for selection of wind power developers for setting up 1,200 MW grid connected wind power projects in India. It said it bagged 200 MW at a tariff of Rs 3.24 per unit.
Shares of the public sector company plunged 11% to Rs 72.75 on the National Stock Exchange. Traded volumes of about 100 million shares, was nearly five times higher than the six-month average traded volumes.