SJVN shares zoom 13% on getting Rs 14,000 crore Mizoram project
power stock SJVN on Friday rallied over 13% to the day's high of Rs 159.60 on BSE after receiving a Letter of Intent for allotment of Darzo Lui pumped storage project from the Mizoram government.
«With an installed capacity of 2,400 MW, the 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 crores including IDC & Financing costs at April 2023 Price Level. This is the first project of the company in the state of Mizoram,» SJVN said in a regulatory filing.
Comprising eight units of 300 MW each, the Darzo Lui Pumped Storage Project is an On-stream Closed Loop Type pumped storage project.
The annual energy generation with 95% plant availability shall be 4,993.20 MU. The annual input energy required for pumping water to the upper reservoir has been estimated to be 6,331.66 MU with 95% plant availability. The project is proposed to be completed within 72 months.
The agreement shall be signed within three months between SJVN and the Government of Mizoram, the company said.
SJVN shares have seen a jump of 170% in the last year. The Miniratna company is a joint venture between the central government and the Himachal Pradesh government. Trendlyne data shows that out of 4 analysts with coverage on the stock, 2 of them have buy ratings and another 2 have sell calls on the multibagger.
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