SJVN’s share price surged to a 52-week high of Rs 124.40 in early trade on January 29 following the company’s successful bid for a solar power project from Gujarat Urja Vikas Nigam Limited (GUVNL).
As of 9:32 am, SJVN was trading at ₹122.20, reflecting a 4.94% increase on the NSE.
According to reports, SJVN has successfully obtained the entire allocated capacity of a 100 MW solar power project through an eReverse auction organized by Gujarat Urja Vikas Nigam Limited (GUVNL). SJVN secured the project at a rate of Rs 2.54 per unit, choosing to implement a build-own-operate model as part of the tariff-based competitive bidding process under GUVNL Phase XXI. This triumphant acquisition of the solar power project has played a significant role in bolstering the positive momentum in SJVN’s stock value.