SJVN Ltd Share Price – NSE  /  BSE

Power Generation & Distribution, Small Cap

With an installed capacity of 2,400 MW, the aforementioned pumped storage project has been proposed across Darzo Nallah, a tributary of Tuipui river.

The estimated cost of project on completion is Rs 13,947.50 crore including IDC & Financing costs at April 2023 Price Level. This is the first project of the company in the state of Mizoram.

Darzo Lui Pumped Storage Project is an on-stream closed loop type pumped storage project. The project comprises of eight units of 300 MW each.

The annual energy generation with 95% plant availability shall be 4,993.20 MU. The annual input energy required for pumping water to upper reservoir has been estimated to be 6,331.66 MU with 95% plant availability. The project is proposed to be complete within a period of 72 months.

“The agreement shall be signed within three months between SJVN and Government of Mizoram,” the company said in a statement.

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

The company reported 56.04% drop in consolidated net profit to Rs 61.08 crore on 11.12% decline in revenue from operations to Rs 482.91 crore in Q4 FY24 over Q4 FY23.

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SJVN Ltd gained 11.53% today to trade at Rs 157.2. The BSE Utilities index is up 1.22% to quote at 6396.07. The index is up 4.04 % over last one month. Among the other constituents of the index, Antony Waste Handling Cell Ltd increased 5.39% and KPI Green Energy Ltd added 5% on the day. The BSE Utilities index went up 95.88 % over last one year compared to the 20.96% surge in benchmark SENSEX.

SJVN Ltd has added 21.34% over last one month compared to 4.04% gain in BSE Utilities index and 1.89% rise in the SENSEX. On the BSE, 8.02 lakh shares were traded in the counter so far compared with average daily volumes of 23.38 lakh shares in the past one month. The stock hit a record high of Rs 170.45 on 05 Feb 2024. The stock hit a 52-week low of Rs 52.69 on 09 Aug 2023.

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“Under this MoU, the parties have agreed to cooperate with each other for supply or sourcing of renewable energy on long term basis for these Green Ammonia Plants on a mutually agreed terms and conditions,” said the company.

The AM Ammonia (India), a company under Greenko Group is developing one of the world’s largest Green Ammonia Platforms at Kakinada, Andhra Pradesh. The platforms shall be developed in two phases starting with a capacity of one million tons per annum (MTPA) and ramping capacity to five million tons per annum by 2030, equivalent of 1 MTPA of hydrogen, it added.

SGEL will explore setting-up of 4,500 megawatt (MW) renewable energy projects in India including 2,500 to 3,000 MW of solar projects and 1,500 to 2,000 MW of wind projects over three phases which shall ensure a supply of about 11,500 million units on annual basis.

According to company’s regulatory filling, “SGEL and AM Ammonia have agreed to explore innovative commercial framework to ensure competitive tariff and adequate returns to SGEL including offering dollar denominated tariff. It has been agreed that the parties shall enter into a definitive agreement shortly so as to formalize the further course of action.”

SGEL is currently handling a RE Portfolio of about 7.2 GW under various stages of development i.e. operation, construction & pre-construction. This MoU paves way towards SGEL’s first venture into commercial & industrial segment, stated the company.

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

The company reported 56.04% drop in consolidated net profit to Rs 61.08 crore on 11.12% decline in revenue from operations to Rs 482.91 crore in Q4 FY24 over Q4 FY23.

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The key equity benchmarks traded in narrow range with substantial losses in early afternoon trade. The Nifty traded below the 22,600 level after hitting day’s high of 22,705.75 in early trade. IT shares witnessed selling pressure for the third consecutive trading sessions. Trading could be volatile due to May F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex, was down 408.85 points or 0.54% to 74,098.31. The Nifty 50 index lost 138.10 points or 0.61% to 22,566.60.

In the broader market, the S&P BSE Mid-Cap index slipped 0.62% and the S&P BSE Small-Cap index declined 0.86%.

The market breadth was weak. On the BSE, 1,249 shares rose and 2,456 shares fell. A total of 119 shares were unchanged.

Economy:

According to the latest Annual Report of the Reserve Bank of India (RBI), the Indian economy is exhibiting strength and stability with robust macroeconomic fundamentals and financial stability. India has emerged as the fastest growing major economy in the world and a leading contributor to global growth. Inflationary pressures are abating, led by steady core disinflation and deflation in fuel prices. Food inflation, however, remains vulnerable to recurring supply shocks which are preventing a quicker alignment of headline inflation with the target. Fiscal consolidation is progressing along with an improvement in the quality of fiscal spending and adjustment.

The outlook for the Indian economy in 2024-25 is brightening, says the RBI. Headline inflation softened to 5.4% during 2023-24 from 6.7% in the previous year, driven by the fall in core inflation (CPI excluding food and fuel) to 4.3% from 6.1%. India is well placed to step-up its growth trajectory over the next decade in an environment of macroeconomic and financial stability.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 1.92% to 23.71. The Nifty 27 June 2024 futures were trading at 22,677.05, at a premium of 110.45 points as compared with the spot at 22,566.60

The Nifty option chain for the 27 June 2024 expiry showed maximum Call OI of 43 lakh contracts at the 24,000 strike price. Maximum Put OI of 41.9 lakh contracts were seen at 22,000 strike price.

Buzzing Index:

The Nifty IT index declined 1.12% to 33,168.25. The index fell 2.43% in three consecutive trading sessions.

Coforge (down 2.25%), Persistent Systems (down 2.24%), Wipro (down 1.35%), L&T Technology Services (down 1.32%), Mphasis (down 1.26%), Tata Consultancy Services (down 1.1%), HCL Technologies (down 1.07%), LTIMindtree (down 1.01%), Infosys (down 0.81%) and Tech Mahindra (down 0.41%) declined.

Stocks in Spotlight :

SJVN slipped 3.97% after the company reported 56.04% drop in consolidated net profit to Rs 61.08 crore on 11.12% decline in revenue from operations to Rs 482.91 crore in Q4 FY24 over Q3 FY24.

Indegene declined 3.11% after the company’s consolidated net profit fell 3.9% to Rs 94.9 crore in Q4 FY24 as compared with Rs 98.8 crore in Q3 FY24. Revenue from operations fell marginally to Rs 673 crore in Q4 FY24 from Rs 673.4 crore in Q3 FY24.

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