SJVN Ltd Share Price – NSE  /  BSE

Power Generation & Distribution, Small Cap

The key equity benchmarks continued to trade with limited losses in morning trade. The Nifty traded below the 21,900 level. Realty stocks declined for fifth straight day.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was down 374.90 points or 0.52% to 72,114.09. The Nifty 50 index dropped 133.80 points or 0.61% to 21,862.05.

In the broader market, the S&P BSE Mid-Cap index dropped 1.12% while the S&P BSE Small-Cap index fell 0.79%.

The market breadth was weak. On the BSE, 1,080 shares rose and 2,287 shares fell. A total of 158 shares were unchanged.

Politics:

India is gearing up for its election in 2024. The BJP is looking to consolidate its grip on power as it aims for a historic third term while a band of opposition parties, including the Congress, has formed a united front called INDIA to deny PM Modi another victory. The elections will occur in 7 phases, starting on 19 April and ending on 1 June. The Lok Sabha elections 2024 results will declared on 4 June.

Earnings Today:

Wipro, HDFC Asset Management Company, Jio Financial Services, Hindustan Zinc, Elecon Engineering, KP Green Engineering, Sejal Glass, Rajnish Wellness, Roselabs Finance, Rajnish Retail, Amal, Benares Hotels, Sybly Industries, and VL E-Governance & IT Solutions will announce their quarterly results later today.

Buzzing Index:

The Nifty Realty index slipped 1.44% to 919.30. The index tumbled 4.33% in five trading sessions.

Phoenix Mills (down 4.36%), Sobha (down 2.57%), Sunteck Realty (down 1.89%), DLF (down 1.83%), Godrej Properties (down 1.45%), Brigade Enterprises (down 1%), Oberoi Realty (down 0.98%), Macrotech Developers (down 0.85%), Mahindra Lifespace Developers (down 0.53%) edged lower.

Stocks in Spotlight:

SJVN declined 2.39%. The company said that its wholly owned subsidiary, SJVN Green Energy has incorporated a joint venture company with Assam Power Distribution Company named, SGEL Assam Renewable Energy.

Dhanlaxmi Bank shed 1.85%. The bank said that the Reserve Bank of India (RBI) has granted its approval for the appointment of Ajith Kumar K.K as the managing director & CEO of the bank for a period of 3 three years.

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The joint venture company shall carry out business in the field of power generation from all renewable energy sources including Hydro Power by setting up power plants.

SJVN Green Energy will hold 51% in SGEL Assam Renewable Energy.<{P>SJVN is engaged in electricity generation. The company is also engaged in the business of providing consultancy.

The company’s consolidated net profit dropped 51.65% to Rs 138.97 crore on 1.57% decline in revenue from operations to Rs 543.31 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.35% to Rs 127.85 on Thursday, 18 April 2024.

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SJVN announced that the wholly owned subsidiary of the Company i.e., SJVN Green Energy has incorporated a Joint Venture Company with Assam Power Distribution Company named “SGEL Assam Renewable Energy” vide Certificate of Incorporation dated 18 April 2024 issued by the Ministry of Corporate Affairs, Government of India.

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Geeta Kapur, chairman & managing director of SJVN said, “SJVN Green Energy has earlier bagged the 200 MW solar project through tariff based competitive bidding at a tariff of Rs 2.66 per unit on build own and operate (BOO) basis for which e-RA was conducted on 2 March 2024 by GUVNL.”

Kapur further stated that the tentative cost of construction and development of this project is Rs 1,100 crore. The project is to be developed at Gujarat State Electricity Corporation (GSECL) solar park at Khavda. The power purchase agreement shall be executed with GUVNL after adoption of tariff by Gujarat electricity regulatory commission (GERC).

The project shall be commissioned in a period of 18 months from the date of signing of power purchase agreement (PPA), she added.

The project is expected to generate 508.40 million units in the first year after commissioning and the projected cumulative energy generation over a period of 25 years would be about 11,698.16 million units, said the company.

Commissioning of this project is expected to reduce 5,73,210 tonnes of carbon emission and would contribute in Government of India (GoI) mission of reduction in carbon emission, it added.

SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.

The company’s consolidated net profit dropped 51.65% to Rs 138.97 crore on 1.57% decline in revenue from operations to Rs 543.31 crore in Q3 FY24 over Q3 FY23.

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