SJVN stock soars 8% after MoU with Bihar govt for Rs 5,663 crore project

SJVN shares have corrected 15 percent in the past three months.

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26 Aug, 2025 12:21

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Shares of SJVN soared 8 percent on January 1 after the company inked a Memorandum of Understanding (MoU) with the Bihar government for a project worth Rs 5,663 crore.

At 10.01 am, shares of SJVN were trading at Rs 111.21 on the NSE. Furthermore, the surge in the stock today was also triggered by heavy trading volumes. As much as two crore shares already changed hands so far, higher than the one month daily traded average of 67 lakh shares.

As per the pact, SJVN will develop the 1,000 MW Hathidah Durgawati Pumped Storage Project (PSP). The project will feature a levelized tariff of Rs 9.39 per kWh, calculated at February 2024 price levels with a pumping energy rate of Rs 3 per kWh. The development of Pumped Storage Projects in Bihar is expected to generate direct and indirect employment for 5,000 people and attract an investment of around Rs 10,000 crore.

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In August 2022, the Ministry of Power appointed SJVN as the nodal agency for developing Pumped Storage Projects (PSPs) in Bihar. The company was subsequently allocated four projects: Telharkund PSP (400 MW), Sinafdar PSP (345 MW), Panchgotia PSP (225 MW), and Hathidah Durgawati PSP (1,600 MW).

The Hathidah Durgawati project, proposed on the Durgawati River in Bihar's Kaimur District, will have an installed capacity of 1,000 MW (4x250 MW). It will be designed to deliver a daily peak energy output of 6.325 Million Units (MU) and an annual peak energy generation of 2,308.65 MU.

The order win bolstered SJVN's portfolio as the company is currently developing about 12,000 MW of power storage projects across various states such as Maharashtra, Karnataka, Mizoram Himachal Pradesh and now Bihar.

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