Navratna stock, SJVN Ltd surges 7% amid signing MoU with Bihar Govt for Rs 5,663 Cr project

The share price of  Navratna PSU stock, SJVN Limited reached an intraday high of 7.58 percent to Rs. 112.33 per share on Wednesday, an increase from its previous close of Rs. 104.41 per share. SJVN signed an MoU with the Government of Bihar to develop the 1000 MW Hathidah Durgawati Pumped Storage Project (PSP) on the Durgawati River in Kaimur district, with an estimated cost of Rs. 5,663 crore.

 The project, expected to generate 6.325 MU of daily peak energy, is part of a larger initiative to develop PSPs in Bihar, including Telharkund (400 MW), Sinafdar (345 MW), and Panchgotia (225 MW).

The market capitalization now stands at approximately Rs. 43,927 crores as of January 01, 2025. As of the September 2024 shareholding pattern, SJVN Limited is primarily held by the promoters at 81.85 percent, foreign institutional investors hold 2.38 percent, and the public at 11.48 percent.

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 SJVN Limited, a Navratna public sector enterprise, has been a leading force in India’s energy sector since its establishment on May 24, 1988, as a joint venture between the Government of India and Himachal Pradesh. Operating from Shimla, the company has a diverse portfolio of energy projects in India, Nepal, and Bhutan, including power plants, power transmission, and consultancy services.

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