SJVN shares hiked around 13% on Thursday after the cabinet nod approved investment in the Buxar Thermal Power project. The project will be implemented by SJVN Thermal Private Limited and completed at an estimated cost of INR 10,439.09 crore.

Finance Minister Arun Jaitley said the cabinet has given its approval for the investment approval for around 2X660 MW Buxar Thermal project in Bihar state. The Govt. of Bihar has signed a Power Purchase Agreement for the supply of more than 85% of generated power.

At 03:57 PM, 07 March 2019, the share price was quoting INR 24.70 up INR 0.60 or 2.49%.

About SVJN Ltd.

Incorporated in 1988, SJVN Ltd. is now a well-known name in the Thermal power industry. SJVN Ltd. is implementing power projects in Uttarakhand, Bihar, Himachal Pradesh, Gujarat and Maharashtra in India and also in Bhutan and Nepal.