SJVN share price continues its winning streak, hits all-time high on hydro projects order

livemint.com:

SJVN share price has risen for the fifth consecutive trading session on Tuesday following several project wins in the last few days. SJVN share price surged 9.8% to touch an all time high in today's session and in the five trading sessions, SJVN shares jumped by 31% moving from ₹45.80 to ₹59.90 (CMP). SJVN share price opened at ₹60 apiece on BSE, and touched intrday high at ₹62.75 and low at ₹59.39.  The Arunachal Pradesh government awarded five hydro projects to SJVN, totaling 5097 MW.

Projects include 3097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MWAmulin, and 400 MW Mihumdon. Since all five projects are situated in the Dibang Basin, resources will be used most effectively, and projects will be finished on schedule. The development of these projects will require an expenditure of more than ₹50,000 crores, and their completion will result in a 1.1 million tonne annual reduction in carbon emissions.

On Saturday, SJVN announced that its sole subsidiary, SJVN Green Energy LTD, has been given a letter of intent (LOI) by Punjab State Power Corporation Limited (PSPCL) for the purchase of 1200 MW of solar energy. According to the SJVN, the solar projects would be created under the Build Own and Operate (BOO) model, with a preliminary construction cost estimate of ₹7,000 crore. The company also disclosed to investors that it has signed an MoU with REC Ltd for the financing of projects by the company, its subsidiaries, and joint ventures up to a total of ₹50,000 crore in a separate exchange filing.