SJVN share price: LIC ups stake, retail shareholding rises to 12 lakh

NSE

Shares of SJVN Ltd. ended 6% higher on Thursday (July 11) and will be in focus on Friday as well. Thursday's advance has taken the stock's year-to-date gain so far to 63%.Based on the June quarter shareholding pattern released on the BSE on Thursday, India's largest insurance company Life Insurance Corporation of India (LIC) increased its stake in the state-run hydropower company to 2.26%. At the end of the March quarter, LIC had a 1.73% stake in SJVN.Between April and June, small shareholders, or those with authorised share capital of up to ₹2 lakh also piled into the stock, with that number increasing by around 50,000 to 12.13 lakh from 11.6 lakh at the end of the March quarter.India's mutual funds have also increased their holdings in SJVN, but only marginally. At the end of the June quarter, Mutual Funds had a 1.56% stake in SJVN, up from the 1.54% they owned during the March quarter.The government is still the biggest shareholder in SJVN, holding a stake of 81.85%, which is higher than the Minimum Public Shareholding norms.Shares of SJVN have risen 13% in the last one month, and have underperformed the Nifty PSE index, which has seen gains of over 15%. On the charts, the stock's Relative Strength Index (RSI) is at 61.7, which means it is currently in neutral territory. An RSI reading above 70 indicates that the stock is in 'overbought' territory.Shares of SJVN Ltd. ended with gains of 6% on Thursday at ₹151.53. With this move, the stock now has a market capitalisation of ₹58,900 crore.