₹134 Stock Gains 31% in Q1 After Major Government Upgrade; Big Potential

The government has given ‘Navratna’ status to state-owned hydropower company SJVN (NSE: SJVN). Getting the ‘Navratna’ status will benefit the company in increasing its credibility in the market and starting large-sized PPP projects.

Let us tell you that SJVN has become the 25th CPSE to get ‘Navratna’ status. SJVN is a CPSE whose annual turnover for the financial year 2023-24 is Rs 2833 crore and profit is Rs 908 crore.

Now the company’s share will be in focus on Monday. Opn Friday, SJVN’s stock saw a slight rise and the share reached an intraday high of Rs 134.30.

Let us tell you that LIC also has a big stake in it. LIC has 8,89,94,881 shares i.e. 2.26 stake in the company.

What Did The Company Say?

The Department of Public Enterprises, Ministry of Finance, Government of India has conferred “Navratna” status to SJVN Limited, the company said in a regulatory filing today, Friday.

June Quarter Results

SJVN’s consolidated net profit in the June quarter rose 31% to Rs 357.09 crore. According to the information given by the company in the exchange filing, it had reported a net profit of Rs 271.75 crore during the April-June quarter of the previous fiscal.

The company’s total income during the quarter increased to Rs 958.47 crore from Rs 744.39 crore in the same quarter last year.

The company’s expenses increased to Rs 476.39 crore from Rs 362.60 crore in the first quarter of the previous fiscal.

Quick Fact

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