BEAS Financial News

SJVN shares zoomed over 9% to hit a new 52-week high of Rs 83.7 in Wednesday's trade on BSE after the firm signed a Memorandum of Understanding (MoU) with Power Finance Corporation (PFC) for financial assistance for projects. «PFC and the Company have signed a Memorandum of Understanding (MOU) for financial assistance to various diversified portfolio of projects including majorly Renewable Energy projects and thermal generation project to be set up at total project cost of about Rs 1,18,826 crore,» the company said in an exchange filing. As per the MoU, the term loan financial assistance is proposed tentatively at 70% of the project cost, which may be increased for renewable energy projects as per project requirements. At 12.27 p.m., the scrip was trading 8.7% higher at Rs 83.2 on BSE. SJVN also delivered multibagger returns, as it has rallied over 170% in the last six months.

SJVN shares jumped 10.5% to hit a 52-week high of Rs 70.7 in Monday's trade on BSE after the company's subsidiary SJVN Green Energy (SGEL) signed a power purchase agreement with Bhakra Beas Management Board (BBMB) to develop an 18 MW solar power project. «The project will be developed on the land parcels of BBMB in the states of Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024,» the company said in an exchange filing. The project has been secured through open competitive bidding at a tariff of Rs 2.63/- in the e-reverse auction organized by the Punjab Energy Development Agency, SJVN said. The project will generate 39.42 million units of energy in the first year of operation, and the cumulative energy generation over a period of 25 years would be about 917 million units, the company added. The Power Purchase Agreement for the power produced from the project has been signed with BBMB for 25 years. SJVN plans to install over 10,000 MW renewable energy capacity in three years while progressing towards its shared vision of becoming a company of 25000 MW by 2030 and 50000 MW by 2040, the company said. At 10.18 am, the scrip was trading 8.8% higher at Rs 69.6 on BSE.

The BSE Sensex was trading 283 points or 0.43% higher at 66,882. Nifty50 was trading at 19,912, up 92 points or 0.46% at around 9.24 am. From the Sensex pack, HCL Tech, Tata Motors, NTPC, Wipro, and Power Grid opened with gains, while only Infosys, Bharti Airtel, and IndusInd Bank opened with cuts. Among individual stocks, SJVN shares opened over 6% higher after the company signed a power-purchase agreement with Bhakra Beas Management Board for an 18-megawatt solar power project. Adani Enterprises shares also opened 3% higher after the company's subsidiary in Singapore signed a joint venture agreement with Kowa Holding Asia, Singapore for sales and marketing of green ammonia, green hydrogen and its derivatives. Sector-wise, Nifty PSU Bank rose 1.07% and Nifty Auto surged 0.54%.

Adani Enterprises, Adani PortsBillionaire Gautam Adani-led promoter group has increased stake in two of the group's listed companies — Adani Enterprises and Adani Ports — as the ports-to-energy conglomerate continues to work on a claw back strategy.IRB InfrastructureIRB Infrastructure Developers, IRB Infrastructure Trust, have collectively reported the toll revenue of Rs 417 crore for the month of August, showing growth of 24% year-on-year.SJVNSJVN, through its wholly owned subsidiary SJVN Green Energy Limited (SGEL), has signed a PPA with Bhakra Beas Management Board (BBMB) for 18 MW solar power.Read more: Here's the trade setup for today's sessionCoffee Day EnterprisesAn application has been filed against the company under Insolvency and Bankruptcy Code. The company said it is seeking appropriate legal advice and will take all appropriate steps to protect its interest.InsecticidesA fire accident occured at one of the plants in Dahej.

SJVN Ltd has signed an agreement with Bhakra Beas Management Board (BBMB) to set up an 18 megawatt (MW) solar power project at an investment of Rs 90 crore. Both entities signed a power purchase agreement (PPA) in this regard on Friday, SJVN said in a statement. SJVN, through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL), signed a PPA for 25 years with BBMB for 18 MW solar power.

₹10,000 crore. The State Disaster Management Authority’s data notes that 379 persons have lost their lives in rain-related incidents to date, while 352 have suffered injuries, 38 are missing and 16,343 animals have died. Over 2,457 houses have been completely damaged, while 10,569 have suffered partial damage; 307 shops and 5,439 cowsheds have also been damaged.

Himachal Pradesh is battering heavy rains for the past few days with the death toll in the state climbed to 224 in the monsoon fury while 117 people died in road accidents. The rainfall has triggered a number of cases of landslides and cloud bursts which led to huge losses in life and property. A total of 2,022 houses have been fully damaged, and 9,615 houses have been partially damaged, with 113 landslides occurring in this year's monsoon season.

₹15 crore to the disaster relief fund. This contribution will play a crucial role in mitigating the extensive damage inflicted by heavy rains, floods, cloudbursts, landslides, and slope failures in the state. The death toll from rain-related incidents in Himachal Pradesh has climbed to 78 over the past week with the recovery of another body from the debris of a collapsed temple, PTI reported.

₹15 crore to the disaster relief fund. This contribution will play a crucial role in mitigating the extensive damage inflicted by heavy rains, floods, cloudbursts, landslides, and slope failures in the state. The death toll from rain-related incidents in Himachal Pradesh has climbed to 78 over the past week with the recovery of another body from the debris of a collapsed temple, PTI reported.

Also read: Himachal Pradesh, Uttarakhand reeling from devastating monsoon, massive damage and loss of life. 10 updates Since the onset of the monsoon season in Himachal Pradesh on June 24, 338 people have lost their lives in rain-related incidents and road accidents, with 38 individuals still missing, according to the state's emergency operation centre. Of these, 221 people have perished directly due to rain-related incidents.

Hindustan Times. Currently, Punjab is facing fresh floods with many areas of Hoshiarpur, Gurdaspur, and Rupnagar districts submerged following the release of excess water from the dams, PTI reported. Chief Minister Bhagwant Mann on Wednesday said that the Punjab government is keeping a close watch on the situation, adding that relief and rescue operations are underway in the flood-hit areas.

Kangra near Pong Dam in the Beas river, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday as heavy rains continued to batter the state.Indian Army columns have been deployed for flood relief operations in Shimla, Fatehpur and Indora areas of the State. The death toll in rain-related incidents in the State has risen to over 60 with the chief minster stating that the State has suffered a loss of around Rs 10,000 crore. “It will take around one year for us to redevelop the infrastructure of the state" Chief Minster Sukhu said.

Indian Air Force helicopters are conducting rescue operation in flood affected areas of the hilly state. Heavy rains have battered Himachal Pradesh since Sunday, triggering landslides in Shimla's Summer Hill, Krishna Nagar and Fagli. As heavy rains continue to batter state, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said that over 800 people have been evacuated from low-lying areas of Kangra near Pong Dam in the Beas river.

climate Change Mahesh Palawat said moderate to heavy rain is expected over Uttarakhand and Himachal Pradesh during the next two days. Further more , he warned that another heavy spell is possible from 20 August. Moreover, in Himachal, Chief Minister Sukhvinder Singh Sukhu informed that over 51 people have lost their lives within the past 24 hours due to landslides and continuous rainfall in the area.

Punjab government on Monday warned residents of five districts against going near the Beas riverbanks as surplus water from the Pong dam is going to be released. The move follows heavy incessant rains in the catchment areas of the river.

Himachal Rains: Landslide blocks National Highway 205 near Bilaspur The Shimla-Kalka National Highway, a vital route connecting Shimla and Chandigarh, has been severely impacted by recurring landslides over the past couple of weeks, causing significant disruptions in transportation. This stretch was initially blocked on August 2 due to a major landslide but was reopened on August 8. However, only light vehicles would be allowed on this road stated Solan district administration.

District Disaster Management Authority on Sunday issued an advisory for the citizens. The advisory said, «1. Avoid visiting hilly areas and places prone to landslides and heavy rainfall.

Punjab Chief Minister Bhagwant Mann said on Sunday that the state suffered estimated losses of nearly Rs 1,000 crore due to recent floods. A detailed report on the losses will be sent to the Union government and a relief package will be sought, he said. An on-ground assessment of the losses will be done and people will be provided compensation, he said.

New Delhi: Paddy farmers in Punjab and Haryana are in distress as 60% of their cultivated land is under water after the extremely heavy rainfall between 7 July and 10 July. This may hit yields significantly resulting in lower crop production if the paddy fields are not affected further. Punjab and Haryana have witnessed rainfall in large excess of 96% and 91% above the long period average (LPA), respectively during 1 June to 12 July.

Himachal Pradesh Deputy Chief Minister Mukesh Agnihotri on Monday said the Jal Shakti Department has suffered losses to the tune of Rs 1,411 crore due to floods and landslides caused by heavy rains in the hill state. He said 5,203 drinking water schemes, 1,237 irrigation schemes and 55 sewerage schemes were affected while 101 flood control works were damaged. Agnihotri, who holds the portfolio of Jal Shakti Vibhag, said while 4,623 schemes have been restored so far, it will take time to fix all of them. «We have been able to restore them because of the passionate and steely spirits of our employees,» he said. «I appreciate the work being done by the employees and officers of the department for the restoration of drinking water and sewerage schemes in difficult circumstances,» he added. Agnihotri said the government's aim was to provide relief to the affected people at the earliest.

Bhakra Beas Management Board (BBMB) will release 22,300 cusec of water from Pong Dam in Himachal Pradesh's Kangra district beginning Sunday afternoon. The maximum possible release would be made through a turbine of Pong power house in Kangra district while 4,377 cusec would be released through spillway beginning 4 pm on Sunday (July 16), according to a notification issued by the senior design engineer, water regulation cell, BBMB.