SJVN shares jumped 8% on signing MoU to develop pumped storage projects

SJVN Ltd shares off to a good start during the maiden trading session of 2025. The stock surged 7.57 per cent to hit a high of Rs 112.30 in Wednesday's trade. The state-run company said in a BSE filing that it has entered into a fresh memorandum of understanding (MoU) for developing pumped storage projects.

"SJVN signed a Memorandum of Understanding (MoU) with Govt of Bihar in Patna for development of 1000 MW Hathidah Durgawati Pumped Storage Project and other PSPs in state of Bihar," it stated.

The PSP development in Bihar aims to create 5,000 direct and indirect jobs and investment of around Rs 10,000 crore.

To recall, the Centre appointed SJVN as the nodal agency to develop PSPs in August 2022. "Proposed on river Durgawati in distt. Kaimur, Bihar, the Hathidah Durgawati PSP, with an installed capacity of 1000 MW (4x250 MW), is designed to generate a daily peak energy of 6.325 Million Units (MU) and an annual peak energy of 2308.65 MU. The estimated project cost is Rs 5,663 crore, with a levelized tariff of Rs 9.39 per kWh (assuming a pumping energy rate of Rs 3 per kWh) based on February 2024 price levels," SJVN said.

Currently, the PSU said it is developing about 12,000 MW of PSPS in Maharashtra, Karnataka, Mizoram and Himachal Pradesh.

SJVN shares saw high trading volume on BSE today as around 15.13 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 4.55 lakh shares. Turnover on the counter came at Rs 16.59 crore, commanding a market capitalisation (m-cap) of Rs 43,424.24 crore. There were 4,17,831 buy orders against sell orders of 2,20,157 shares.

As of September 2024, the government held an 81.85 per cent stake in the PSU. SJVN 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.