After the Fourth trading session, SJVN advanced 2.90% to Rs 39.05 on bargain hunting. The stock was down 7.33% in the past four trading sessions to end at Rs 37.95 on December 12, and its recent closing high of Rs 40.95 was recorded on December 6 2022.

On the Bombay Stock Exchange (BSE), 7.66 lakh shares were traded compared to average daily volumes of 11.11 lakh shares. During the second quarter, the stock hit a high of Rs 39.5 and a low of Rs 38.05.

On December 5, the stock hit a 52-week high of Rs 42.25, and the stock hit a 52-week low of Rs 25.45 on May 22.

The stock had outperformed the market over November 22, rising 7.58% compared with a 1.32% rise in the Sensex. The scrip had outperformed the market in the second quarter, advancing 23.19% against Sensex’s 3.08% rise. Also, the counter outperformed the market in 2021, surging 34.66% against a 7.12% jump in Sensex.

According to the charts, the stock is trading above its 50-day simple moving average (SMA), placed at 35.81; 100-day simple moving average (SMA), set at 32.84 and 200-day simple moving average (SMA), placed at 30.36.

The company is in the business of hydro, solar, thermal, power transmission, power trading, and wind in the public sector. The governments of India and Himachal Pradesh have joint ventures.

On a consolidated basis, the company’s net profit hit a high of 10.1% at Rs 445.44 crore, while net sales in Q2FY23 fell 0.4% to Rs 878.48 crore from Q2FY22.