SJVN Ltd. share price rose in the first session of 2025 as the company signed a memorandum of understanding with the Bihar Government to develop 1,000 megawatt pump storage. The development of Hathidah Durgawati PSP will create direct and indirect employment opportunities for 5,000 persons with investment of Rs 10,000 crore, SJVN said in an exchange filing.
The PSP will be developed on river Durgawati in Kaimur district, Bihar. The Hathidah Durgawati PSP is designed to generate a daily peak energy of 6.325 million units. The annual peak of energy is estimated to be 2,308.65 million units.
The estimated project cost is Rs 5,663 crore with a levelised tariff of Rs 9.39 per kilowatt based on February 2024 price levels, SJVN said in an exchange filing.
In August, 2022, SJVN is appointed as the nodal agency to develop pump storage project in Bihar, by the Ministry of Power, the exchange filing said.
SJVN share price rose 5.68% to Rs 110.34 apiece, the highest level since Dec 27. It was trading 5.59% higher at Rs 110.25 apiece as of 9:41 a.m., as compared to 0.10% declined in the NSE Nifty 50 index.
SJVN share price rose for second consecutive session in a row. The stock gained 14.81% in 12 months, and 2.28% on year to date basis. Total traded volume so far in the day stood at 6.4 times its 30-day average. The relative strength index was at 38.41.
Out of five analysts tracking the company, three maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 1.3%
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