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.
Investment by hydro power giant SJVN Ltd has been hiked to Rs 12,000 crore for 2024-25, from the revised and budgeted amount of Rs 10,000 crore for the ongoing fiscal. Another hydro power giant NHPC Ltd will increase its investment to Rs 11,761.87 crore in 2024-25 compared to the revised estimated investment of Rs 9,006.31 crore for the current fiscal. NHPC s initial investment was budgeted at Rs 10,857.22 crore for 2023-24.
Renewable Energy Stocks - Adani Green Energy Ltd, NHPC Ltd, SJVN Ltd, Jaiprakash Power Ventures Ltd, Orient Green Power Company Ltd, BF Utilities Ltd, Indowind Energy Ltd, Energy Development Company Ltd and WAA Solar Ltd have strong mid capitalisation.
State-owned SJVN Ltd on Thursday said it has bagged a 100 MW solar project under an e-reverse auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). SJVN bagged the 100 MW solar project at the rate of Rs 2.54/unit on a build-own and operate basis through a tariff-based competitive bidding process of GUVNL Phase XXI, a company statement said.
Apart from being a key hydro power generator, the government’s increased thrust on adopting renewable energy can help SJVN increase share from solar and wind power.