This Large-Cap Company Signs MoU for 1800 MW Pumped Storage Project in Chhattisgarh with Rs 9,500 Crore Investment, Creating 5,000 Jobs and Strengthening India’s Renewable Energy Sector
ver the past three years, the stock has delivered a return of 203.18 per cent, classifying it as a multibagger stock.
SJVN Limited has entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh and the Chhattisgarh State Power Generation Company Limited (CSPGCL) to develop a significant 1800 MW Pumped Storage Project (PSP) at Kotpali in Chhattisgarh. This collaboration aims to bolster India's energy security and facilitate a shift towards a sustainable power sector.
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The MoU was signed by key representatives including Shri Sushil Kumar Sharma from SJVN, Shri Subodh Kumar Singh from the Energy Department of Chhattisgarh, and Shri Sanjeev Kumar Katiyar from CSPGCL, with notable dignitaries such as the Chief Minister of Chhattisgarh, Shri Vishnu Dev Sai, present. The project, which will be developed in the Balrampur District, is expected to involve an investment of Rs 9,500 crore and create employment opportunities for approximately 5,000 people. Designed as an off-stream closed-loop PSP, it will have an installed capacity of 1800 MW and is projected to generate around 3967 million units of energy. This initiative is set to enhance the renewable energy capacity in the region, contributing to economic growth and development.
Company Overview
SJVN(Satluj Jal Vidyut Nigam) is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydro-power projects. SJVN was declared Navaratna status in Aug 24
SJVN Limited, a joint venture between the Government of India and the Government of Himachal Pradesh, is a Navratna CPSE engaged in the development of power projects. As of the latest data, SJVN's stock is priced at Rs 86.39, with a market capitalisation of Rs 34,491.81 crore. Over the past three years, the stock has delivered a return of 203.18 per cent, classifying it as a multibagger stock. The stock's 52-week high is Rs 159.6, while the low is Rs 80.5. Despite a one-year return of -28.18%, the company remains a significant player in the energy sector, with a price-to-earnings (PE) ratio of 33.36.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.