This multibagger penny stock below Rs 100 signs MoU with Power Finance Corporation Limited!

The stock gave multibagger returns of over 100 percent in just 3 months and over 200 percent in 1 year.

SJVN Limited It was reported that the Company and Power Finance Corporation Limited (PFC) have invested approximately Rs. A Memorandum of Understanding (MoU) has been signed for financial assistance to various diverse portfolio of projects including major renewable energy projects and thermal generation projects to be set up at a total project cost of Rs. 1,18,826 crores. Term loan financial assistance at 70 per cent of the project cost is proposed temporarily, which can be extended for renewable energy projects as per the project requirements.

Earlier, the company had signed a PPA with Bhakra Beas Management Board (BBMB) for 18 MW of solar power through its wholly owned subsidiary SJVN Green Energy Limited (SGEL). The project will be developed on land parcels of BBMB in the states of Himachal Pradesh and Punjab.

The project is scheduled to be operational by August 2024. The project has been secured through open competitive bidding at a tariff of Rs 2.63 crore in a reverse auction conducted by the Punjab Energy Development Agency. The project will generate 39.42 million units of energy in the first year of operation and the cumulative energy generation over a period of 25 years will be approximately 917 million units. A Power Purchase Agreement (PPA) has been signed with BBMB for 25 years for the power generated from the project. The commissioning of this project is expected to reduce 44,923 tonnes of carbon emissions.

SJVN, a leading CPSU under the Ministry of Power, plans to install more than 10,000 MW of renewable energy capacity in three years, moving towards its shared vision of becoming a 25,000 MW company by 2030 and 50,000 MW by 2040.

SJVN is engaged in the business of power generation. The company is also engaged in the business of providing consultancy for hydropower projects. The company is keeping itself healthy Dividend A payout of 72 percent with a dividend yield of 4.38 percent. This power company has a market cap of over Rs 32,000 crore with a 3-year CAGR of 52 percent.

On Thursday, shares of SJVN Ltd fell 9.82 per cent to Rs 73.72 per share from the previous closing level of Rs 81.75. The company declared a final dividend of Rs 0.62 on each equity share of face value Rs 10, ex-dividend today.

Additionally, the sudden fall in the share price was due to the offer for sale (OFS) announced by the company, which proposes to sell 9,66,72,962 equity shares of face value Rs 10 each, representing 2.46 per cent. The total issued and paid-up equity share capital (base offer size) of the Company, as on September 21, 2023 (T day) only for non-retail investors and September 22, 2023 (T+1 day) for retail investors and non- -For retail investors who choose to extend their un-allotted bids (offer shares) with the option to sell an additional 9,66,72,961 equity shares. (OFS offer price is Rs 69 per share).

Stock gave multibagger Returns of over 100 percent in just 3 months and over 200 percent in 1 year. Investors should keep an eye mid Cap The power company is on their monitoring list.

Disclaimer: This article is for informational purposes only and not investment advice.

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