SJVN stock surges 5% following PSU agreement with Maharashtra government | Stock Market News

SJVN’s stock surged by 5.71% to ₹133.20 following the announcement of two Memorandums of Understanding (MoUs) with the Maharashtra government for power project development. The agreements include five Pumped Storage Projects (PSPs) with a total capacity of 8,100 MW and a 505 MW Floating Solar Project at Lower Wardha Dam. The PSPs are essential for energy storage and grid stabilization, while the solar project will be developed in two phases. These projects, with an estimated investment of ₹48,000 crore, aim to provide sustainable and reliable energy to Maharashtra. The MoUs will enable SJVN to conduct surveys, prepare Detailed Project Reports (DPRs), and establish the projects in a timely manner.