PSU Stocks: Power Grid, SJVN and NHPC Share Price NSE
Public Sector power companies like Power Grid Ltd, SJVN Ltd and NHPC Ltd saw their stock prices shoot up to the highest they’ve ever been on Friday. This happened because the government decided to give them more money in the budget that was announced on Thursday. Since the budget announcement on February 1st, lots of people are buying shares of companies that make electricity. NHPC’s allocation went from ₹9,006 crore to ₹11,761 crore.
PSU Stocks Highlights
The government plans to spend 17% more on power companies, now totalling ₹93200 crore, up from last year’s ₹79616 crore. NHPC’s budget got bumped up to ₹11761 crore from ₹9006 crore, and Power Grid’s to ₹12250 crore from ₹8800 crore. SJVN Limited’s budget also got increased to ₹12000 crore from ₹10000 crore.
PSU Stocks: Power Grid Shares
The amount of money allocated to these power companies went up by at least 17%, reaching ₹93,200 crore in this budget. Last year, it was ₹79,616 crore. For example, and Power Grid’s allocation increased from ₹8,800 crore to ₹12,250 crore.
This PSU Stocks Power Grid are now at their highest ever price. They went up by 8% this month, on top of the 9.5% increase they had in January.
PSU Stocks: SJVN Shares
SJVN’s stocks went up by 11.5% today, after jumping up to 14% earlier. Now, each share costs ₹142, which is more than double what it was sold for during its Offer for Sale last September, when it was priced at ₹69.
After the budget announcement on February 1st, there’s been a big rush to buy shares of companies that make electricity. One such company is SJVN Limited. On Friday, its shares reached Rs 146.30, the highest they’ve been in a year. Before that, they closed at Rs 127.50. That means the stock has gone up about 15%. In March 2023, the price was as low as Rs 30.39.
As of December 2023, the owner of most shares in SJVN Limited is the promoter, who owns about 81.85 percent. The President of India is also a promoter in this government company. The President owns 55 percent of the company’s shares, which is equal to 2,16,13,45,449 shares.
PSU Stocks: NHPC Shares
Today, the value of NHPC’s stock rose by more than 10%, which is the largest one-day increase it has seen in the past two years. This means that the price of NHPC shares went up significantly in just one day. The reason for this rise is partly because the government sold some of its shares in NHPC last month through what’s called an Offer for Sale (OFS). When the government sells its shares in a company, it can affect the stock price. In this case, the stock price of NHPC increased by 50% from the price at which the government sold its shares. So, since the government sold some of its NHPC shares, the value of NHPC’s stock has gone up quite a bit.
NHPC’s stocks are too popular now, and its relative strength index (RSI) is at 84, while SJVN’s stocks are also too popular, with its RSI at 78. When the RSI is above 70, it means the stock is too popular.
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