By Malvika Gurung
Investing.com -- Shares of the state-owned hydroelectric power generator SJVN (NS: SJVN ) recorded a new all-time high of Rs 73.7 apiece on Monday after skyrocketing 15.15% in the intraday trade. The stock has been rising for three consecutive sessions, jumping 19% in the period.
The Miniratna public sector undertaking (PSU) stock has shot up 30.72% in a month and rallied 112.7% so far this year. Shares of the company have soared 104.2% over a one-year period, making it a multibagger in nature.
The state-owned company’s wholly owned subsidiary SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary of the company, has secured an 18 MW Solar Power project.
SJVN Green Energy has signed a power purchase agreement (PPA) with Bhakra Beas Management Board (BBMB) for 18 MW of solar power.
As per the project details, it will be developed on the land parcels of BBMB in the states of Himachal Pradesh and Punjab and is scheduled to be commissioned by August 2024.
SGEL secured the said project through open competitive bidding at a tariff of Rs 2.63 per unit in the reverse auction organized by Punjab Energy Development Agency, stated SJVN.
The solar power project will generate a total of 39.42 million units of energy in the first year of operation and the cumulative energy generation over a period of 25 years would be about 917 million units.
The PPA between the two parties has been signed for 25 years, with the commissioning of the project expected to reduce carbon emissions by 44,923 tonnes.
Midcap stocks have been rallying over the last few months as well as taking the lead so far this year. This might be the right time to learn how to pick high quality midcaps that are poised to turn to large caps. Investing.com is hosting a free webinar for all readers on how to go about in selecting such stocks, on 13 September 2023 at 5:30 PM.
You can register here to book your seat: How to catch potential midcaps before they turn to large caps - Investing.com India
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.