SJVN: SJVN Jumps 8% on Securing LoI for 500MW Solar Project from GUVNL
SJVN bagged the order of 500MW Solar project from Gujarat Urja Vikas nigam. This deal will bring down the 1.43 million tonnes of Carbon Mission is expected. The Government of India mission of 2030 is 50% energy source is Non- Fossil- Fuelenergy.
SJVN Shares Surge 8% After Bagging 500MW Solar Project from GUVNL
SJVN saw an approximately 8% increase in shares on March 14, following the receipt of a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 500 MW Solar Project by its renewable arm, SJVN Green Energy Limited (SGEL).
The project, estimated at Rs 2,700 crore, is slated for development at GIPCL Solar Park in Khavda. SJVN Green Energy Limited previously secured the project through tariff-based competitive bidding at a rate of Rs 2.54 per unit on a Build Own and Operate (BOO) basis.
SJVN is moving in Uptrend line and market has reached higher low area of the pattern
As of 10:18 am, SJVN shares were trading at Rs 108.40 on the National Stock Exchange (NSE), marking a 7% increase from the previous close. Over the past year, the PSU stock has delivered returns of 243%.
According to SJVN, GUVNL will finalize the power purchase agreement (PPA) once the Gujarat Electricity Regulatory Commission (GERC) adopts the tariff. The project is expected to be commissioned within 18 months after the PPA signing, targeting completion by November 2025.
The project is anticipated to generate approximately 1,271.07 million units in the first year post-commissioning and a cumulative energy of 29,245.4 million units over 25 years. SJVN highlighted that the project’s commissioning is poised to reduce carbon emissions by 1.43 million tonnes, aligning with the Government of India’s goal of achieving 50% energy generation from non-fossil fuel-based resources by 2030.
Coforge: Coforge Drops 3.5% Before Fundraising Board Meeting
Co Forge IT Company recently withdrew its plans of $750 million IPO in the US. Ahead of Board meeting, Company shares are falling in the market. Company have the plan to raise the funds through equity shares and Preferential shares modes.
Coforge Slips 3.5% Ahead of Fundraising Board Meeting
Coforge shares dipped 3.5% in early trading on March 14 as the IT services company announced a board meeting on March 16 to discuss fundraising plans. The proposed funds could be raised through various methods, including equity shares issuance or other eligible securities. At 9:43 am, Coforge was trading at Rs 5,969.10 on the NSE.
COFORGE is moving in Ascending channel and market has reached higher low area of the channel
The company recently made headlines after withdrawing plans for a $750 million initial public offering in the US. Despite filing for a US IPO in November 2021, Coforge had not updated its prospectus since July 2022. In an exchange filing, the company stated that its board decided to scrap plans for offering American Depository Receipts, with the aim of creating a public market for its ADS and facilitating future access to public equity markets.
ADANI Green Energy: Adani Green Energy Soars 7% on Subsidiary’s SECI Power Purchase Deal
The Adani Green energy signed the power purchase agreement with Solar energy Corporation of India for 534MW Solar power producing project. This deal shows 21778 MWac capacity having Adani Green Energy.
Adani Green Energy Jumps 7% on Subsidiary’s SECI Deal
Adani Green Energy saw a nearly 7% surge at NSE open on March 14, following its subsidiary’s power purchase agreement with Solar Energy Corporation of India (SECI) for 534-MW solar projects. By 9:20 am, the stock was trading at Rs 1,843.75.
In a regulatory filing, Adani Green Energy disclosed that its subsidiary, Adani Renewable Energy Fifty Nine Limited, secured PPAs with SECI for 534 MW of solar projects. This adds to Adani Green Energy’s renewable energy portfolio, now totaling 21,778 MWac capacity.
ADANI GREEN ENERGY Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
In Q3FY24, Adani Green Energy reported a 149% YoY surge in consolidated net profit to Rs 256 crore, with revenue and EBITDA also showing significant growth. The company recently operationalized a 1,000 MW solar capacity at Khavda, Gujarat.
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