SJVN stock hits fresh 52-week high as board to consider share buyback on January 8
At 12:01 pm, the stock was trading 12.46 percent or 4.25 points higher at 38.75 on the BSE. It hit a 52 week high of 39.90 on the BSE. The stock opened at 39.40 and hit an intra day low of 38.15 level.
The SJVN stock rose up to 15.65% in Thursday's trade after the firm announced its board would meet on January 8 to consider a buyback of the fully paid equity shares of the company.
At 12:01 pm, the stock was trading 12.46 percent or 4.25 points higher at 38.75 on the BSE.
It hit a 52 week high of 39.90 on the BSE. The stock opened at 39.40 and hit an intra day low of 38.15 level.
The stock closed at 38.60, 11.88 percent higher on BSE.
"Pursuant to Regulation 29 (1) (b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable provisions of law, notice is hereby given that the Meeting of Board of Directors of the Company will be held on 08th day of January 2018 i.e., Monday at New Delhi, inter alia, to consider the proposal for Buyback of the fully paid-up equity shares of the Company, "SJVN said in a filing to BSE.
The announcement was made after market hours on Wednesday.
The stock hit a 52-week low of 30 level on January 6, 2017. 18.88 lakh shares of the firm were traded on the BSE. The stock is up 28.15% or 8.5 points on a yearly basis.
SJVN , a mini ratna, was incorporated on May 24, 1988 as a joint venture of the the central government and Himachal Pradesh government. The firm is primarily engaged in the business of generation and sale of power. The company operates through thermal power segment. The company is implementing power projects in Himachal Pradesh, Uttarakhand, Bihar, Gujarat, Rajasthan and Arunachal Pradesh in India besides neighbouring countries, which include Nepal and Bhutan. The installed capacity of the company is approximately 1,959.6 MW.