NHPC slips, JSW Energy rise after receiving orders from Gujarat government

NHPC traded lower while JSW Energy jumped on BSE on Friday (March 15, 2024) after both companies received different orders from the Gujarat government.

NHPC has received a letter of intent (LoI) from Gujarat Urja Vikas Nigam Limited to establish a 200 MW solar power project.

JSW Energy's subsidiary JSW Neo Energy has also got a LoI from Gujarat Urja Vikas Nigam Limited to estabslih the 300 MW Solar Capacity Khavda RE Park.

Here's how their stocks are trading on BSE on Friday.

NHPC Share Price

NHPC slipped by 3.85 per cent to the day's low of Rs 81.76 from previous close of Rs 85.03 in morning deals on Friday.

The PSU stock was trading down by 3.60 per cent, or Rs 3.06, at Rs 81.97 at 10:27 am on Friday.

What is NHPC's order?

NHPC on Thursday received an order from the Gujarat Urja Vikas Nigam Limited (GUVNL) for 200 MW capacity solar power project within 1125 MW GSECL’s RE Park at Khavda (GSECL Stage-3).

The estimated financial implication for the said solar power project would be Rs. 846.66 crore (approx.), NHPC said in a statement. 

JSW Share Price 

JSW Energy jumped to the day's high of Rs 485.75 in morning deals on Friday after closing at Rs 475.85 on Thursday.

The stock of the energy company was trading in positive terrritory, up by 0.86 per cent, or Rs 4.10, at Rs 479.95.

What is JSW Neo Energy's order?

JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, on Thursday received a LoI for solar capacity of 300 MW from Gujarat Urja Vikas Nigam Limited (GUVNL) for setting up of 1,125 MW grid connected solar power project in Gujarat State Electricity Corporation Limited’s RE Park at Khavda.

"The current installed generation capacity is 7.2 GW, of which 675 MW is solar. The company expects to have 9.8 GW of installed capacity by CY24. With this awarded
capacity of 300 MW under GSECL Stage-3, the company's total locked-in generation capacity increases to 12.0 GW, of which 2.4 GW will be solar," JSW Energy said in a statement on Thursday.