SJVN gains on inking MOU for development of Kholongchhu Hydroelectric Power Project

SJVN is currently trading at Rs 22.55, up by 0.20 points or 0.89% from its previous closing of Rs 22.35 on the BSE. The scrip opened at Rs. 22.50 and has touched a high and low of Rs 22.70 and Rs 22.35 respectively. So far 65411 shares were traded on the counter. The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 24.00 on 07-Apr-2014 and a 52 week low of Rs 18.30 on 25-Sep-2013. Last one week high and low of the scrip stood at Rs 23.55 and Rs 21.90 respectively. The current market cap of the company is Rs 9348.78 crore. The promoters holding in the company stood at 89.97% while Institutions and Non-Institutions held 6.87% and 3.16% respectively. SJVN has signed a Memorandum of Understanding (MOU) with Druk Green Power Corporation (DGPC), Bhutan on April 23, 2014 for carrying out pre-construction activities for development of Kholongchhu Hydroelectric Power Project (600MW) till formation of Joint Venture Company in Bhutan. The project is situated on the Kholongchhu river in Trashiyangtse Dozongkhag, having total installed capacity of 600 MW and shall be implemented by setting up a JV Company of SJVN & DGPC in Bhutan which shall develop and operate the project on BOOT basis. SJVN is a joint venture between the Central government and Himachal Pradesh state government. The company owns and operates India’s largest 1500 MW Nathpa Jhakri Hydro Power Station in Himachal Pradesh.