The shares of this green energy company rose around 4 percent to hit an all-time high price of Rs 88.20 per share after Blackrock Global Fund bought a stake in the company.
SJVN Ltd is a mid-cap stock, with a market capitalization of Rs 34,110 crores, On Monday shares were trading at Rs 86.80 on the National Stock Exchange at 11:50 a.m., gaining 2.24 percent from the previous close.
According to NSE Block deals data, BlackRock global funds bought 50 lakh shares of the company after BNP Paribas arbitrage sold 50 lakh shares.
SJVN Shares have delivered a multibagger return of 142 percent in the previous six months and 111 percent in the last year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.42 lakhs in six months and 2.11 lakhs in a year.
SJVN Ltd has a 46,879 MW project portfolio with 74 projects in various stages of development and is on track to meet its shared ambition of 5000 MW by 2023-24, 25,000 MW by 2030, and 50,000 MW capacity by 2040.
SJVN met its CAPEX target of Rs 8,000 crores in fiscal year 2022-23. SJVN is currently on track to meet its massive CAPEX target of Rs 10,000 crores for FY 2023-24.
The company’s net profit has declined by 1.4 percent year on year, from Rs 444 crore in Q2FY23 to Rs 438 crore in Q2FY24. During the same period, revenue has remained the same at Rs 878 crore.
The company has a total project portfolio of 56 percent from hydro & PSP followed by 39 percent from solar projects 4.05 percent from thermal power projects and 0.61 percent from wind projects.
SJVN is operating majorly into the non-fossil-based fuel segment thus contributing to India’s pledge towards net zero carbon emission country by 2070. Currently, ~39% of the total project portfolio is Solar Powered Projects.
SJVN is targeting an operative capacity of 5,857 MW by FY24 which is 2.4x the current operational capacity and has a shared vision of 25,000 MW by 2030 which is already locked in in terms of identified projects.
In a recent shareholding pattern, company promoters hold an 81.85 percent stake in the company, while domestic institutional investors hold a 5.75 percent stake and retail investors hold an 11.5 percent stake.
SJVN is a Mini Ratna stock that is engaged in the business of Electricity generation. The company is also engaged in the business of providing consultancy for hydropower projects.
Written by Omkar Chitnis
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