Shares of SJVN Ltd. soared by almost 14% to touch a day’s high of Rs 159.65 on 26 July after announcing a nearly Rs 14,000 crore project win in Mizoram, marking it the company’s first project in the state.

The company received the Letter of Intent for the Darzo Lui Pumped Storage project from the Government of Mizoram.

The project will have a capacity of 2,400 MW and will be built across the Darzo Nallah, a tributary of the Tuipui River. The project’s estimated cost, including financing, would be around Rs 13,947.5 crore.

This project will have eight units of 300 MW each, generating 4,993.2 million units annually with 95% plant availability, and is expected to be completed within 72 months.

The company will sign the agreement with the Government of Mizoram within three months. Along with IREDA, it will help set up 900 MW hydroelectric projects in Nepal. These projects are subject to approval from the central government and other relevant authorities.

LIC increased its stake in SJVN to 2.26% by the end of the June quarter, up from 1.73% in the March quarter.

Small shareholders with authorized share capital up to Rs 2 lakh increased by around 50,000 from March to June. The total count of these shareholders increased from 11.6 lakh in March to 12.13 lakh in June.

At 10:46 AM, the shares of SJVN Ltd. were trading 8.41% higher at Rs 152.80 on BSE.

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