Today’s stock market: Stocks of power generation company SJVN fell on Monday, March 10, on weaker sentiment on Dalal Street, even as the company signed a memorandum of understanding (MOU) with the Chattisgarh government to develop 1,800 MW Kotpali PSP.
Despite the fall today, the stock has been a wealth of investors over the past few years and has given multiple returns.
SJVN MoU Details
“SJVN has signed a 1800 MW Pumped Storage Project (PSU) with Chhattisgarh and Chhattisgarh State Power Generation Company Limited (CSPGCL) with Kotpali Intate of Chhattisgarh’s Kotpali Intate of Chhatpali, Chhattisgarh,” the Public Sector Commitment (PSU) said in today’s exchange filing.
The total investment of the project is estimated to be ₹The company’s exchange application added that during its development phase, there are expected direct and indirect employment benefits of 5,000 people, and the company’s exchange application added Rs 9,500 crore.
Kotpali PSP is a popular external closed-loop PSP in the Chhattisgarh Balrampur area with an installation capacity of 1800 MW and is designed to generate about 3967 MU of energy.
With reliance on renewable sources such as solar and wind (solar and wind), PSP plays a key role in ensuring uninterrupted power supplies by storing excess energy during off-peak hours and discharging during peak demand.
SJVN Stock Price Trend
Although SJVN stock has traded in red over the past year, while the weakness of the Indian stock market, it offers multiple returns on a two-year, three-year and five-year basis.
PSU stock has risen 296.90% over the past five years, outperforming the benchmark BSE Sensex’s 107.98% rally. Meanwhile, the stock soared 161% in two years and 196% in three years.
On Monday, stocks settled in ₹BSE’s 85.73 fell by 2.32%.
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