Multibagger stock below Rs 100: This power generation company bags new order worth Rs 550 crore from Gujarat Urja Vikas Nigam Ltd!
The stock gave multibagger returns of 125 per cent in 6 months while the BSE Sensex Index is 13.3 per cent.
Satluj Jal Vidyut Nigam Limited (SJVN) informed that the company has secured a 100 MW solar project via Gujarat Urja Vikas Nigam Limited's (GUVNL) e-auction. At a winning bid of ₹2.63/unit, the project will be developed on a Build-Own-Operate basis by SJVN Green Energy Limited (SGEL), a wholly-owned subsidiary, at an estimated cost of Rs 550 crore.
Expected to be commissioned within 18 months of signing the 25-year Power Purchase Agreement (PPA), the project promises a first-year generation of 252 million units, translating to approximately 5,866 million units over its lifespan. Notably, this initiative will lead to a significant reduction of 2,87,434 tonnes of carbon emissions.
This accomplishment marks a significant step towards SJVN's renewable energy goals and underscores the Company's commitment to sustainable development.
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) & and half-yearly results (H1FY24) for the year ended September 30, 2023.
Today, shares of SJVN Ltd plunged 1.72 per cent to Rs 91.32 per share from its previous closing of Rs 92.92 with an intraday high of Rs 93.72 and an intraday low of Rs 90.86. This company has a market cap of over Rs 35,000 crore with a 3-year CAGR of 50 per cent. The stock gave multibagger returns of 125 per cent in 6 months while the BSE Sensex Index is 13.3 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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