SJVN Shares In Focus As Firm Gets Navratna Status From Finance Ministry; Stock Rises
SJVN share price: Last week, the government granted Navratna status to four state-owned companies. SJVN is one of them
SJVN share price: Satluj Jal Vidyut Nigam (SJVN) shares were trading in the green during Monday early trade after the Centre on Thursday granted Navratna status to the company. Last week, the government granted Navratna status to four state-owned companies. SJVN is one of them. At 10.15 am on Monday, shares of SJVN are trading at Rs 136.10 apiece, rising 2.80 per cent on the BSE. On the National Stock Exchange (NSE), SJVN was trading at Rs 136.12 per share, up 2.08 per cent.
Four Public Sector Undertakings (PSUs) — Railtel Corporation of India Limited, Solar Energy Corporation of India Limited, National Hydroelectric Power Corporation Limited, and Satluj Jal Vidyut Nigam (SJVN) — have been upgraded to Navratna status.
The Department of Public Enterprises, under the Ministry of Finance, announced the elevation of these PSUs through its official X channel on Friday. Following the announcement, SJVN, now the 25th company to attain Navratna status, informed the stock exchanges, stating, "We inform you that the Department of Public Enterprises, Ministry of Finance, Government of India, vide its letter no PD-I26/0004/2024-DPE dated August 30, 2024, has granted 'Navratna Status' to SJVN Limited."
Meanwhile, benchmark indices Sensex and Nifty reached new all-time highs in early trading on Monday, driven by foreign fund inflows and a surge in the US markets.
The equity markets have been on a continuous rally, fueled by increasing optimism over potential US rate cuts and a resurgence in foreign investments.
The 30-share BSE Sensex surged 360 points to a new record of 82,725, while the NSE Nifty rose 98 points to a fresh high of 25,334 in early trade.
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