Sunday , October 17 2021

Godawari Power & Ispat shines on getting approval for capacity expansion

Godawari Power & Ispat is currently trading at Rs. 660.10, up by 31.15 points or 4.95% from its previous closing of Rs. 628.95 on the BSE.

The scrip opened at Rs. 648.00 and has touched a high and low of Rs. 662.50 and Rs. 636.70 respectively. So far 1524 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 662.50 on 16-Mar-2021 and a 52 week low of Rs. 81.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 662.50 and Rs. 540.00 respectively. The current market cap of the company is Rs. 2216.18 crore.

The promoters holding in the company stood at 67.50%, while Institutions and Non-Institutions held 1.13% and 31.37% respectively.

Godawari Power & Ispat has received approval from Chhattisgarh Environment Conservation Board, Raipur for ‘Consent to Operate’ enhanced capacity of Iron Ore Pellet Plant from 21,00,000 to 24,00,000 Tons Per Annum with immediate effect. Similarly, the Chhattisgarh Environment Conservation Board, Raipur has also accorded its ‘Permission to Establish’ the proposed expansion and modernization of existing manufacturing facilities along with integration of existing environmental clearances at exiting plant location. The capex required for the above expansion will be invested out of internal accruals of the company.

Godawari Power & Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business

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