SJVN jumped 11.01% to Rs 38.30 at 9:16 IST on BSE after the company said that the meeting of board of directors of the company will be held on 8 January 2018 to consider the proposal for share buyback.
The announcement was made after market hours yesterday, 3 January 2018.Meanwhile, the BSE Sensex was up 33.37 points, or 0.1%, to 33,826.75.
More than usual volumes were witnessed on the counter. On the BSE, 5.13 lakh shares were traded in the counter so far, compared with average daily volumes of 1.33 lakh shares in the past one quarter. The stock had hit a high of Rs 39.65 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 38.15 so far during the day. The stock had hit a 52-week low of Rs 30 on 22 August 2017.
The large-cap company has equity capital of Rs 4136.63 crore. Face value per share is Rs 10.
SJVN's net profit declined 16.7% to Rs 434.89 crore on 14.3% fall in net sales to Rs 727.26 crore in Q2 September 2017 over Q2 September 2016.
SJVN is a joint venture between the Government of India & Government of Himachal Pradesh. The company is fast emerging as a major power player in the country.
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