Why SJVN Share Price is Rising

SJVN's stock performance over the past year has largely tracked the broader PSU and power sector sentiment. The stock has remained under sustained pressure throughout the year. It has declined nearly 28% and touched a new 52-week low on 19 December 2025.

Volatility persisted due to execution timelines and market-wide correction. The recent rally reflects improving confidence in the company's growth pipeline and India's clean energy push.

The stock has benefited from revived interest in power utilities, strong inflows in PSU stocks, and clarity on future capacity additions, triggering a positive shift in near-term momentum.

Here are the key reasons driving the recent upside.

#1 Major Operational Milestones and Tata Power Partnership

SJVN's 1 GW solar project in Rajasthan was put into service by Tata Power Renewable Energy Limited on 30 December 2025.

It's anticipated that this milestone will produce about 2,454.84 million (m) units of green electricity in its first year, making it Tata Power's largest solar project to date.

The 1,320 MW Buxar Thermal Power Project's first unit finished its 72-hour continuous full load run in November 2025, and the second unit is expected to be commissioned in early 2026.

Investor confidence in the company's future revenue visibility and operational growth has been greatly increased by this quick expansion into the thermal energy and renewable energy sectors.

#2 PSU Power Stocks Lead the Broader Market Rally

The latest leg of the rally has been led by PSU power and infrastructure stocks, which have outperformed the benchmark indices. Investors have rotated into defensive yet growth-oriented utilities, driven by expectations of steady cash flows and long-term visibility.

SJVN, being a government-owned power generation company, has gained from strong buying interest in PSU stocks, Improved risk appetite for capital-intensive infrastructure plays, and renewed optimism around India's power demand growth.

The broader strength in power utilities has provided a favourable for SJVN's share price movement.

What Next?

The 1,320 MW Buxar Thermal Power Project is nearing full completion, with Unit 1's commercial operation date (COD) recently declared, and Unit 2 targeted for COD by January or February of the next financial year.

The company plans to commission approximately 650 MW of solar/renewable energy projects during FY26 and a large 1.5 GW of solar projects in FY27.

Construction will commence in the first quarter of FY27 on two major hydro projects in Nepal: Lower Arun (680 MW) and Upper Karnali (900 MW).

The pipeline of ongoing hydro projects, including Arun-III, Sunni, and Luhri, is in an advanced stage, with the small 66 MW Dhaulasidh project expected to be commissioned around December 2026.

The project capex is approximately Rs 75 bn for FY26 and Rs 80 bn for FY27, with the management planning for an annual capex of Rs 100 bn to Rs 120 bn in subsequent years.

How shares of SJVN have performed recently

In the past five days, shares of SJVN have rallied over 20% in trade.

Over the past month, its shares have increased over 7%.

The stock touched its 52-week high of Rs 110 on 6 January 2025 and its 52-week low of Rs 69.8 on 5 December 2025.

About SJVN

SJVN is a prestigious Navratna public sector enterprise established as a joint venture between the Government of India and the Government of Himachal Pradesh.

Originally focused on hydroelectricity, the company has transformed into a diversified power major with a growing portfolio in solar, wind, and thermal energy.

It currently manages an operational capacity of over 3,146 MW, including major projects like the Nathapa Jakhri Hydro Power Station and the massive Bikaner solar project.

As a central Renewable Energy Implementing Agency, SJVN is instrumental in executing India's clean energy transition by managing large-scale green energy tenders.

The company aim to achieve an ambitious total generation capacity of 25 GW by 2030 and 50 GW by 2040 through projects in India and neighbouring countries like Nepal.

For more details about the company, you can look at SJVN's fact sheet and quarterly results.

You can also compare with its peers:

SJVN vs Torrent Power

SJVN vs NTPC

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Happy investing.

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