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New Delhi, Feb 13 () State-owned SJVN Ltd on Thursday reported a 18 per cent rise in consolidated profit after tax (PAT) at Rs 216.07 crore for the quarter ended December 2019. The company's "profit after tax from continuing operations" during the same quarter a year ago stood at Rs 183.22 crore, SJVN said in a BSE filing. Total income was almost flat at Rs 551.39 crore during the quarter under review as against Rs 551.83 crore in the year-ago quarter. Its expenses rose 36.06 per cent to Rs 283.71 crore as against Rs 208.51 crore in October-December 2018. SJVN Ltd, a company under administrative control of Ministry of Power, is a joint venture of the Government of India and the Government of Himachal Pradesh. ABI RVK

SJVN Q3 PAT up 18 pc to Rs 216 cr

New Delhi, Mar 31 () State-owned SJVN on Tuesday said it has paid a sum of about Rs 400 crore and 179 crore to the Centre and the Himachal Pradesh government, respectively, as an interim dividend for the financial year 2019-20. Engaged in the generation of power, SJVN is a joint venture between the Government of India and the Himachal Pradesh government. "SJVN Chairman Nand Lal Sharma has paid Rs 179.35 crore as interim dividend to government of Himachal Pradesh through cheque was handed over to Jai Ram Thakur, Chief Minister of Himachal Pradesh," the company said in a statement. For the financial year 2019-20, a total interim dividend of Rs 668.07 crore was announced by the company. "While Rs 400.32 crore has been paid to Government of India, Rs 88.40 crores are being paid to public shareholders as interim dividend," the SJVN chairman said in the statement. In the company, the government of Himachal Pradesh holds 26.85 per cent stake, while 59.92 shares are with the Government of India and the rest 13.23 per cent are with the public. ABI HRS

SJVN pays Rs 400 cr to Centre, Rs 179 cr to Himachal Pradesh govt as interim dividend for FY20

The government is planning to create public sector energy giants with an enomous restructuring exercise that will merge all state-run hydropower firms and transfer their thermal projects to the National Thermal Power Corporation (NTPC) to create strong companies that can take on the rapidly growing private conglomerates. 
 As per the proposal, National Hydroelectric Power Corporation (<keyword id="45180" type="CITY" weightage="100" keywordseo="NHPC">NHPC</keyword>), Satluj Jal Vidyut Nigam (<keyword id="60609" type="COMPANY" weightage="100" keywordseo="SJVN">SJVN</keyword>), Tehri Hydro Development Corporation (<keyword id="175865" type="ORGANIZATION" weightage="100" keywordseo="THDC">THDC</keyword>) and North Eastern Electric Power Corporation (NEEPCO) may be merged into one entity that will control 10,000 MW of existing and 32,500 MW of proposed capacity. 
 
The proposal has been welcomed by the executives of big firms but it also has created a flutter among the executives of smaller companies as the merger can lead to redundancies or shift a senior manager in a small firm to a comparatively lower position in the big one. It would also abolish several positions of directors and chief executives. 
 
Power Minister Piyush Goyal first discussed the proposal at a meeting on July 2 with the public sector undertakings and gave SBI Caps the nod to come up with a plan, a senior government official said. The official said NTPC and NHPC welcomed the proposal during the meeting. "SBI Caps has suggested merging the four hydro PSUs into one for increasing efficiency, better management and expertise. The power minister believes that one umbrella company will reduce costs and manage the related challenges in an efficient way," the official said.

Govt Considering To Merge All State-run Hydropower Firms

New Delhi, May 17 () State-owned power producer SJVN Ltd's employees will contribute their one-day salary, totalling Rs 44.5 lakh, in fight against COVID-19.As a responsible corporate citizen and understanding the seriousness of fight against the COVID-19, the employees of the SJVN Ltd are voluntarily donating their one-day salary to CM (Himachal Pradesh) Relief Fund. Covid-19 Solidarity Response Fund amounting to Rs 44,50,000, its chairman and MD Nand Lal Sharma said in a statement.Earlier, SJVN employees had contributed one-day salary to the PM CARES fund to combat the pandemic.Sharma also said that in series of steps to support battle against COVID-19, SJVNL has contributed Rs 25 crore towards PM CARES fund.SJVNL has also provided a financial support of around Rs two crore to the Himachal Pradesh government for procuring ventilators, personal protection equipment (PPEs), food, masks, sanitizers and gloves in various hospitals.It has also setup 48 quarantine units in its projects. KKS BALBALBAL

SJVNL employees to contribute Rs 44.5 lakh in fight against COVID-19

New Delhi, Jan 21 () State-owned power firm SJVNL on Tuesday said Himachal Pradesh's Additional Chief Secretary Ram Subhag Singh has been been appointed as its part time government director.
"Ministry of Power on 20th January, 2020 has appointed Ram Subhag Singh, Additional Chief Secretary (MPP &amp; Power), Government of Himachal Pradesh as part time Government Director on the Board of the Company with immediate effect," the firm said in a BSE filing.
He is appointed as nominee director of Himachal Pradesh on the Board of SJVN Ltd (SJVNL) from January 20, 2020, the statement said.
Singh is a 1987 batch lndian Administrative Services Officer of Himachal cadre. He is a doctorate in social sciences and also holds, post graduate diplomas in Human Resource Management and Public Administration. KKS BAL

Power Min appoints RS Singh as govt director on SJVNL board

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

New Delhi, Jan 23 () The government is planning to raise over Rs 10,000 crore from CPSE ETF's seventh tranche that would be launched by the end of the current month, according to market sources.
 The issue is likely to open for anchor investors on January 30 and for other institutional and retail investors, the next day, they added.
 Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.
 Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, is managing the CPSE ETF on the government's behalf and has already filed 'scheme information document' for CPSE ETF FFO 6 with markets regulator Sebi.
 Sources privy to the development said the offer will have a base issue size of Rs 10,000 crore. Besides, there will be a green-shoe option.
 The decision to launch seventh tranche of CPSE Exchange Traded Fund (ETF) has been taken after receiving robust response for earlier stake sale by the government in the product.
 Through the earlier six tranches of the CPSE ETF, the government has already raised Rs 49,500 crore -- Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs 10,000 crore in March 2019 and Rs 11,500 crore in July 2019.
 The CPSE ETF tracks shares of 11 CPSEs -- ONGC, NTPC, Coal India, IOC, REC, PFC, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.
 The proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year. It had aimed to garner Rs 85,000 crore through disinvestment in the preceding financial year. SP HRS

Govt plans to garner Rs 10,000 cr from 7th tranche of CPSE ETF

New Delhi, Jan 30 () The seventh tranche of CPSE ETF was lapped up by institutional investors on Thursday, with the portion reserved for anchor investors getting subscribed more than three times to the tune of Rs 9,200 crore.
 The government has launched seventh tranche of CPSE Exchange Traded Fund (ETF), comprising shares of 11 state-run companies, to raise up to Rs 10,000 crore from the market.
 The base issue size is of Rs 10,000 crore with a greenshoe option to retain a portion of the oversubscription.
 As much as 30 per cent of the total base issue size, or Rs 3,000 crore, was reserved for anchor investors who put in bids worth Rs 9,200 crore, DIPAM Secretary Tuhin Kanta Pandey said in a late evening tweet.
 He further said that robust participation has been received from domestic and foreign investors.
 The issue will open for other institutional and retail investors on Friday.
 The decision to launch sixth FFO (further follow on offer) or seventh tranche of CPSE ETF was taken after the government received robust response for earlier stake sale in the product.
 The government has already raised about Rs 50,000 crore through six tranches of CPSE ETF earlier -- Rs 3,000 crore from first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from third tranche in March 2017, Rs 17,000 crore in November 2018, Rs 10,000 crore in March 2019 and Rs 11,500 crore in July 2019.
 Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, which has been mandated to manage CPSE ETF on behalf of the government, had earlier this month filed 'scheme information document' for sixth FFO of CPSE ETF with markets regulator Sebi.
 CPSE ETF tracks shares of 11 CPSEs (Central Public Sector Enterprises) -- ONGC, NTPC, Coal India, IOC, REC, PFC, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.
 The proceeds from ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year. SP RVK

CPSE ETF receives bids worth Rs 9,200 cr from anchor investors

New Delhi, Jan 27 () The government is planning to raise at least Rs 10,000 crore through the seventh tranche of CPSE ETF which will open for anchor investors on Thursday.
 Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 per cent on the underlying index. The portfolio is concentrated towards the energy and oil sector.
 The issue will open for anchor investors on Thursday and for other institutional and retail investors, the next day-- Nippon Life India Asset Management-- which has been mandated to manage the CPSE ETF on behalf of the government, said in a statement.
 Besides, the investors would get a 3 per cent discount over the issue price, it added.
 The sixth FFO (further follow on offer) or seventh tranche will have a base issue size of Rs 10,000 crore with a greenshoe option to retain a portion of the oversubscription.
 Retail investors can invest a minimum of Rs 5,000, while non-institutional investors and qualified institutional buyers (other than anchor investors) can invest a minimum of Rs 2 lakh. The minimum investment for anchor investor is fixed at Rs 10 crore.
 The decision to launch seventh tranche of CPSE Exchange Traded Fund (ETF) has been taken after receiving robust response for earlier stake sale by the government in the product.
 Through the earlier six tranches of the CPSE ETF, the government has already raised about Rs 50,000 crore; Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs 10,000 crore in March 2019 and Rs 11,500 crore in July 2019.
 Nippon Life India Asset Management, formerly known as Reliance Nippon Life Asset Management, had already filed 'scheme information document' for sixth FFO of CPSE ETF with markets regulator Sebi.
 The CPSE ETF tracks shares of 11 CPSEs -- ONGC, NTPC, Coal India, IOC, REC, PFC, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN.
 The proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current financial year. It had aimed to garner Rs 85,000 crore through disinvestment in the preceding financial year. SP SHW
SHW

CPSE ETF's 7th tranche to open on Thursday; govt to raise Rs 10,000 cr

<ul><li><keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> Three Gorges International (CTGI), has pulled out of the West Seti hydropower project, explaining that it isn’t feasible. </li><li>CTGI’s exit will have a definite impact on the credibility of Chinese firms in <keyword id="12266" type="LOCATION" weightage="20" keywordseo="Nepal">Nepal</keyword>, and could set a troubling precedent for similar projects. </li><li>It could be ripe moment for <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> to step in. Earlier this year, India’s state-backed Satluj Jal Vidyut Nigam (SJVN) commenced construction on one of Nepal’s largest <keyword id="743601" type="PERSON" weightage="20" keywordseo="hydroelectricity">hydroelectricity</keyword> projects, Arun 3. </li></ul>India has always been increasingly wary of China’s growing closeness with its neighbours over the recent years, a key example being Nepal. In need of financing for development and <keyword id="17408" type="DOMAIN" weightage="20" keywordseo="infrastructure">infrastructure</keyword>, Nepal has signed deals worth <a href="https://www.hindustantimes.com/world-news/nepal-china-sign-8-pacts-for-projects-worth-2-4-billion/story-NW4J5RheWBbh30bQwmjBiN.html">billions of dollars</a> with China for hydroelectricity, road construction, manufacturing and agriculture projects. However, the countries’ burgeoning relationship might have just hit a snag. A state-owned Chinese power company, China Three Gorges International (CTGI), has pulled out of the West Seti hydropower project after explaining to the Nepalese government that the project isn’t feasible. The $1.2 billion undertaking would have resulted in the completion of Nepal’s first reservoir project by 2019, but without construction not even having begun yet, the project will likely be shelved indefinitely. The two sides have been sparring over the terms of the project for some time now. The Nepalese government had offered to reduce the capacity of the project by 20% to 600 MW and extend the <keyword id="511035" type="PERSON" weightage="20" keywordseo="power-purchase-agreement">power purchase agreement</keyword> from 10 years to 12 years, but CTGI still felt that high displacement and transmission expenses would compromise the cost-effectiveness of the project. A possible rift The pullout of CTGI from the project will have a definite impact on the credibility of Chinese firms in Nepal, and could set a troubling precedent for similar projects. Additionally, Nepal is also wary of finding itself in a Chinese debt trap, as experienced by other South Asian countries like Pakistan and Sri Lanka. All things considered, it could be a ripe moment for India to step in. India already has a number of vested interests in Nepal’s hydropower sector, a sector that it has traditionally been monopolised. Earlier this year, in May, India’s state-backed Satluj Jal Vidyut Nigam (SJVN) commenced construction on one of Nepal’s largest hydroelectricity projects. The <a href="https://in.reuters.com/article/nepal-india-modi/india-and-nepal-pms-launch-construction-of-900-mw-power-plant-idINKBN1IC0P6">900 MW Arun-3 project </a>represented a mending of ties between India and Nepal following an economic blockade at their border in 2015 and 2016. Regardless of the outcome of the West Seti project, India should see CTGI’s exit as a way to improve its own clout in Nepal. Nepal’s Prime Minister, KP Oli, had been relying on Chinese investment to reduce the country’s dependence on India, however the latest development could see things pivoting back to the latter.

You Searched For "SJVN" and got 10 results

SJVN Q3 PAT up 18 pc to Rs 216 cr

PTI

SJVN pays Rs 400 cr to Centre, Rs 179 cr to Himachal Pradesh govt as interim dividend for FY20

PTI

Govt Considering To Merge All State-run Hydropower Firms

BI India Bureau

SJVNL employees to contribute Rs 44.5 lakh in fight against COVID-19

PTI

Power Min appoints RS Singh as govt director on SJVNL board

PTI

Dun & Bradstreet releases its 'India's Top 500 Companies 2021’ list

BI India Partner

Govt plans to garner Rs 10,000 cr from 7th tranche of CPSE ETF

PTI

CPSE ETF receives bids worth Rs 9,200 cr from anchor investors

PTI

CPSE ETF's 7th tranche to open on Thursday; govt to raise Rs 10,000 cr

PTI

China pulling out from a $1.2 billion project in Nepal could be an opportunity for India

Dilsher Dhillon

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