Moneycontrol
Last Updated : Jan 09, 2018 11:07 AM IST | Source: CNBC-TV18

Expect to generate 9,000 m units of power in FY18: SJVN

SJVN has announced a buyback of 5 percent worth Rs 801 crores at Rs 38.75 a share. In an interview with CNBC-TV18, Nand Lal Sharma, Chairman & MD of SJVN spoke about the latest happenings in his company and sector.

CNBC TV18 @moneycontrolcom

SJVN has announced a buyback of 5 percent worth Rs 801 crore at Rs 38.75 a share. In an interview with CNBC-TV18, Nand Lal Sharma, Chairman & MD of SJVN spoke about the latest happenings in his company and sector.

Moderate dividend is expected for FY18 and the investor can expect one more dividend for FY18, he said.

Will decide the final dividend at the annual general meeting (AGM) later in the year, he added.

We have kept cash need for capex in mind while announcing a buyback. We will use part of the cash received in buyback for capex, said Sharma.

The central and state governments hold more than 89 percent stake in the company. This buyback is through a tender offer. Himachal Pradesh government is not participating in the buyback, he further mentioned.

All the four projects put together, we have generated more than 8,600 million units of energy, which is almost 96 percent of the generation target. We expect to generate more than 9,000 million units of power in FY18, Sharma further added.

For full interview, watch accompanying video...
First Published on Jan 9, 2018 11:07 am

tags #Business

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