Shares of SJVN rose 9% in early offers on Wednesday after the ability technology agency reported its earnings for the June 2024 quarter. SJVN reported a 31% rise in web revenue to Rs 357 crore in final quarter in opposition to Rs 271.75 crore revenue within the June 2023 quarter. The inventory climbed 9% to Rs 148.85 on Wednesday. Market cap of the agency stood at Rs 55,508 crore.
Whole earnings climbed 29% to Rs 958.47 crore over the last quarter from Rs 744.39 crore within the year-ago interval.
SJVN shares have a beta of 1.8, indicating excessive volatility in a 12 months. The inventory hit a 52 week low of Rs 55 on August 21, 2023 and a 52 week excessive of Rs 170.45 on February 5, 2024.
By way of technicals, the relative energy index (RSI) of the inventory stands at 43.4, signaling it is buying and selling neither within the overbought nor within the oversold zone. SJVN shares are buying and selling larger than the 5 day, 50 day, 100 day, 200 day however decrease than the 20 day, 30 day transferring averages. The multibagger inventory has gained 149.30% in a 12 months and risen 406% in two years.
Bills climbed to Rs 476.39 crore in Q1 in opposition to Rs 362.60 crore within the first quarter of the final fiscal.
Analysts have a blended view on the prospects of the inventory.
Kushal Gandhi, Technical Analyst, StoxBox stated, “Regardless of the inventory’s present lateral buying and selling, each the day by day and better timeframe Relative Power Index (RSI) have exhibited a destructive slope, signifying a decline in worth momentum. Rs 160-153 vary has confirmed to be a powerful resistance zone, resulting in pronounced rejections and subsequent depreciation within the worth. Consequently, it’s advisable to abstain from buying the inventory on the prevailing market worth, opting as an alternative to await further bullish affirmation earlier than contemplating a brand new place.”
Jigar S Patel, supervisor at Anand Rathi stated,”Assist will likely be at Rs 140 and resistance at Rs 148. A decisive shut above the Rs 148 degree could set off an extra upside to Rs 155. The anticipated buying and selling vary will likely be between Rs 138 and Rs 155 within the short-term.”
Aditya Agarwal, Head Derivatives & Technical, Sanctum Wealth stated, “SJVN is consolidating in a broad vary of Rs 158-128 since January 2024. We anticipate that inventory will proceed to commerce on this band for subsequent few weeks earlier than giving a contemporary transfer. Brief-term merchants can keep away from initiating contemporary positions within the inventory whereas long run buyers can use dips in direction of Rs 132-128 so as to add contemporary lengthy positions for upside goal of Rs 155. Above that, the inventory can transfer in direction of Rs 175 ranges. Nevertheless, a detailed beneath Rs 115 will negate optimistic view on the inventory and beneath that SJVN might appropriate in direction of Rs 97 ranges.”
SJVN Restricted is engaged within the enterprise of technology of electrical energy and the tariff for energy technology. The corporate manufactures and gives three key services and products: technology of electrical energy (hydro, wind and photo voltaic), consultancy and transmission. Its companies embody thermal energy, hydro energy, wind energy, solar energy, energy transmission, consultancy and energy buying and selling.
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