SJVN rose 1.45% to Rs 21 at 12:08 IST on BSE after the company said that Rampur Hydro Electric Project, located on river Satluj in Himachal Pradesh, commenced power generation on Thursday, 20 March 2014.
The announcement was made during trading hours today, 21 March 2014.
Meanwhile, the S&P BSE Sensex was up 41.14 points or 0.19% at 21,781.23
On BSE, so far 66,236 shares were traded in the counter as against average daily volume of 1.62 lakh shares in the past one quarter.
The stock hit a high of Rs 21.25 and a low of Rs 20.70 so far during the day. The stock had hit a record low of Rs 18.40 on 28 May 2012. The stock had hit a 52-week high of Rs 22.70 on 25 November 2013.
The stock had underperformed the market over the past one month till 20 March 2014, rising 0.73% compared with the Sensex's 5.86% rise. The scrip also underperformed the market in past one quarter, gaining 0.49% as against Sensex's 3.13% rise.
The mid-cap company has equity capital of Rs 4136.62 crore. Face value per share is Rs 10.
SJVN during trading hours today, 21 March 2014 said that the company's 412 megawatt (MW) Rampur Hydro Electric Project, located on river Satluj in Himachal Pradesh, commenced power generation on Thursday, 20 March 2014 with the synchronization of its first 68.67 MW unit with the northern grid. The mechanical wet spinning of Unit-I and Unit-II of the Project had been successfully achieved on 4 and 5th March 2014 respectively, SJVN said.
It is expected that all the six vertical axis Francis turbine units each of 68.67 MW will be progressively commissioned within the next three months, the company said.
On completion the project will generate 1770 million units of electricity per annum, 30% of which will be supplied to home state Himachal Pradesh, which is the company's equity partner, in addition to 12% free power. The balance power, will be supplied to the northern grid states namely Haryana, Himachal Pradesh, J&K, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Chandigarh & Delhi, SJVN said in a statement.
SJVN's net profit rose 9.8% to Rs 210.93 crore on 8.2% rise in net sales to Rs 387.44 crore in Q3 December 2013 over Q3 December 2012.
SJVN (formerly Satluj Jal Vidyut Nigam) was incorporated on 24 May 1988 as a joint venture of the Government of India (GoI) and the state government of Himachal Pradesh (GOHP) to plan, investigate, organize, execute, operate and maintain hydro-electric power projects.
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