Dividend Income: The Indian government has received a substantial boost to its treasury from the dividend payout by the Miniratna company, SJVN Limited, in the power generation sector. The Department of Public Asset Management (DIPAM) Secretary made this announcement on Wednesday. According to DIPAM, the government has earned approximately INR 134 crore in dividends from SJVN Limited. On the flip side, SJVN’s stock performance in the past six months has doubled the wealth of its shareholders.

As per the information available on the DIPAM website, the financial year 2023-24 has already seen the government amassing an income of INR 18,062.93 crore through dividends. Prior to this, public sector companies like IRCTC, Coal India, and BHEL had released dividends of INR 100 crore, INR 1,556 crore, and INR 88 crore to the government treasury on September 20. NTPC also contributed to the government treasury with INR 1,487 crore in dividends on September 15.

SJVN: Doubling Wealth in 6 Months

SJVN’s stock has been making significant waves in the financial markets. On Thursday, the stock experienced a dip of more than 1%, closing at INR 74.90 on October 17, 2023. The stock has delivered a remarkable return of 122% in the past six months. In other words, if someone had invested INR 1 lakh six months ago, their investment is now valued at more than INR 2.22 lakh. Furthermore, the return for the year 2023 so far stands at approximately 110%, and the return over the past year hovers around 126%. On the Bombay Stock Exchange (BSE), the stock has a 52-week high of INR 83.69 and a low of INR 30.39. The stock boasts a market capitalization of INR 29,080.48 crore.

Conclusion

The dividend income from SJVN Limited has proven to be a significant contributor to the government’s financial resources. Simultaneously, the impressive performance of SJVN’s stock, which has doubled in value in just six months, is a testament to the company’s robust financial standing. The stock’s soaring returns have caught the attention of investors, underlining the potential for substantial gains in the Indian stock market.