President of India’s portfolio gains Rs 814,86,89,912 from this multibagger penny stock in just 1 day with 50,000 MW aim by 2040; do you have it?

The stock gave multibagger returns of 112 per cent in 6 months while BSE Sensex Index is 4.44 per cent.

Indian stock markets ended the trading session in green on Thursday, with the BSE Sensex Index up 0.77 per cent to close at 64,080.90 and the NSE Nifty-50 Index up 0.76 at 19,133.25. About 2,269 shares have advanced, 1,387 have declined and 135 were unchanged on BSE.

Along with the market in green, this multibagger penny stock bucked the trend and traded in the green. Let us know about this stock:

The stock we will be discussing today is SJVN LTD.

The President of India owns 2,16,14,56,210 shares of 55 per cent stake in the company. Today, shares of the company gained 3.77 points or 5.31 per cent to Rs 74.83 per share. The stock traded at an intraday high of Rs 75.25 and an intraday low of Rs 71.44.

Therefore, 2,16,14,56,210 shares x Rs 3.77 = Rs 814,86,89,912 in just 1 day.

Earlier, the company inform you that under the aegis of India-Norway Task Force for Energy, SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN Limited today inked an MoU with Ocean Sun, Norway for collaboration in the field of new technologies in Green & Clean Energy Sector. As per the MoU, it has been agreed that SGEL shall develop & finance a pilot membrane based floating Solar Project (about 2 MW) at a suitable Location anywhere in India.

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 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. This power company has a market cap of over Rs 29,000 crore with a 3-year CAGR of 50 per cent.
Additionally, the company had ex-traded an offer for sale (OFS) wherein it proposed to sell up to 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 (Base Offer Size). The issue opening date was September 21, 2023 to September 22, 2023.

The stock gave multibagger returns of 112 per cent in 6 months while BSE Sensex Index is 4.44 per cent.

Do you own SJVN Ltd.’s shares in your portfolio? Do let us know in the comments below

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