Rs 40,000 crore projects: This multibagger power generation company obtains concurrences of DPRs of 3,777 MW from the Ministry of Power!

The stock gave multibagger returns of over 100 per cent in 6 months while BSE Sensex Index is 6.5 per cent.

Satluj Jal Vidyut Nigam Limited (SJVN) informed that the Central Electricity Authority (CEA), Ministry of Power, Government of India, has transferred concurrences of DRPs for the 3,097 MW Etalin HEP and 680 MW Attunli HEP projects to Jindal Power Ltd. The total project cost is estimated at Rs 40,000 crore, and the projects are expected to generate 15,566 million Units of electricity annually. The levelized tariff from both projects is Rs. 4.51 per unit. The construction of these projects is expected to generate multiple avenues of employment and contribute to the overall socio-economic development of Arunachal Pradesh.

Earlier, the company informed you that Uttarakhand Power Corporation Limited (UPCL) has signed a Letter of Intent to purchase 200 MW of solar power from SJVN at a tariff of Rs 2.57 per unit. The solar power will be generated from SJVN's 1,000 MW Bikaner Solar Project in Rajasthan, which is being developed through SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN. The power generated from the project will be used by government entities, either directly or through DISCOMs. This development will contribute towards meeting solar RPO targets and addressing the power deficit.

In addition to the above news, SJVN also completed an offer for sale (OFS) in which it sold 9,66,72,962 equity shares having a face value of Rs 10 each, representing 2.46 per cent of the total issued and paid-up equity share capital of the company. The issue opening date was September 21, 2023, and the issue closing date was September 22, 2023.

SJVN, a leading CPSU under the Ministry of Power, plans to install over 10,000 MW of renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25,000 MW by 2030 and 50,000 MW by 2040. The Company has aligned its shared vision with that of the Government of India’s target of achieving 50 per cent energy from non-fossil fuel sources by 2030.

SJVN is engaged in the business of electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects. The company has been maintaining a healthy dividend payout of 72 per cent with a dividend yield of Rs 4.38 per cent. The company reported positive numbers in its Quarterly Results (Q2FY24) & half-yearly results (H1FY24) for the year ended September 30, 2023.

Today, shares of SJVN Ltd plunged 0.66 per cent to Rs 75.17 per share with an intraday high of Rs 76.30 and an intraday low of Rs 75. This company has a market cap of over Rs 29,000 crore with a 3-year CAGR of 50 per cent. The stock gave multibagger returns of over 100 per cent in 6 months while BSE Sensex Index is 6.5 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.