Introduction:
MiniRatna stock announced a Memorandum of Understanding with the Energy Department of the Government of Rajasthan, focusing on developing renewable energy projects totaling 7 GW to enhance the state’s energy infrastructure.
Share Price movement of SJVN Ltd:
As of today, November 22, 2024, SJVN Ltd (NSE: SJVN) stock opened at ₹105.30, reached a high of ₹110.25, and closed at ₹107.60, reflecting a 3.53% increase from the previous close of ₹103.50. The market capitalization stood at ₹42,284.60 crore.
SJVN Ltd share price up after it signs a MOU:
In accordance with SEBI regulations, SJVN Ltd announced the signing of a Memorandum of Understanding (MoU) with the Energy Department of the Government of Rajasthan, aiming to enhance renewable energy development in the state. The agreement was formalised in the presence of Rajasthan’s Chief Minister, Sh. Bhajan Lal Sharma.
The MoU outlines SJVN’s commitment to develop substantial renewable energy projects, including 5 GW of Pumped Storage Projects and 2 GW of Floating Solar Projects. This collaboration signifies a long-term partnership between SJVN and the Rajasthan government to boost the state’s renewable energy infrastructure.
Following the announcement, SJVN Ltd stock experienced a 4% rise, reflecting positive investor sentiment towards this significant venture into renewable energy. This initiative is expected to have a lasting impact on the energy landscape of Rajasthan, promoting sustainable and eco-friendly energy solutions.
Recent news About SJVN Ltd:
On September 27, 2024, SJVN’s stock rose nearly 5% after the firm announced it had secured two MoUs with the Maharashtra government for power project development, involving an investment of approximately ₹48,000 crore.
Stock performance of SJVN Ltd for Period of 1 week, 6 months and 1 year:
Over the past week, SJVN Ltd stock declined by 0.32% and dropped 28.6% over the last six months. However, the stock has gained 27.3% over the past year, showcasing its long-term positive performance despite recent downturns.
Also Read: Infra stock in focus after it signs MoU with NTPC GE Power Services
Shareholding pattern of SJVN Ltd:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 81.85 | 81.85 | 81.85 |
| FII | 2.39 | 2.4 | 2.36 |
| DII | 4.29 | 3.94 | 3.36 |
| Retail & others | 11.48 | 11.83 | 12.42 |
About SJVN Ltd:
SJVN Ltd, a Mini Ratna public sector, is engaged in the generation and marketing of power through multiple sources, including hydroelectric, wind, and solar energy. The company is expanding its renewable energy portfolio, aiming to promote sustainable and eco-friendly energy solutions across various regions.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
