SJVN shares rise 5% in early deals, here's why 

Shares of SJVN Ltd rose over 5% in early deals today after the company said it has inked a Memorandum of Understanding (MoU) with Energy Department, Government of Rajasthan to spearhead the development of renewable energy in the state. SJVN stock rose 5.02% to Rs 108.70 in the current session on BSE. Market cap of the firm stood at Rs 42,422 crore. A total of 2.55 lakh shares changed hands amounting to a turnover of Rs 2.73 crore on BSE.

SJVN shares have a beta of 1.9, indicating very high volatility in a year. The stock fell to a 52 week low of Rs 80.17 on November 24, 2023 and a 52-week high of Rs 170.45 on February 5, 2024.

In terms of technicals, the relative strength index (RSI) of the stock stands at 33.1, signaling it's trading neither in the overbought nor in the oversold zone. SJVN shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 100 day, 150 day, and 200 day moving averages.   

The multibagger stock has gained 194% in two years and risen 33.35% in a year.

In five years, the stock has risen 338.34%.

Under the MoU, SJVN would develop 5 GW Pumped Storage Projects and 2 GW Floating Solar Projects in Rajasthan. Both the parties have agreed to collaborate for development of renewable energy on long term basis. 

SJVN Limited is engaged in the business of generation of electricity and the tariff for power generation. The company manufactures and provides three key products and services: generation of electricity (hydro, wind and solar), consultancy and transmission. Its businesses include thermal power, hydro power, wind power, solar power, power transmission, consultancy and power trading.