Shares of Godawari Power and Ispat Ltd, an iron and steel products manufacturer, ended the trading session in the green even as stock market benchmark indices Sensex and Nifty ended nearly 2 per cent lower after a day’s breather following a spike in crude oil prices amid growing tensions in West Asia. On the BSE, the stock closed at Rs 254.75, up 0.43 per cent or Rs 1.10, against the previous close of Rs 253.65. The market cap of the company stood at Rs 17,098 crore. On the National Stock Exchange (NSE), the stock closed at Rs 254.40, up 0.24 per cent or Rs 0.60. The stock has been gaining over the last three days, rising 2.93 per cent in that period. Technically, the stock traded higher than the 5-day and 200-day moving averages but lower than the 20-day, 50-day and 100-day moving averages.
NCLT approves merger
The company has informed exchanges that the National Company Law Tribunal (NCLT) has approved the merger of Godawari Energy Limited with Godawari Power and Ispat Ltd. Godawari Energy Limited is a wholly owned subsidiary of Godawari Power and Ispat Ltd and will now be merged with the parent company.
The company said in its filing that the National Company Law Tribunal (NCLT), Cuttack Bench, approved the amalgamation scheme on March 10, 2026.
Capacity Expansion at Raipur Facility
The company recently shared another important update in a filing. The company said that on February 28, it received consent to operate at increased capacity from the Chhattisgarh Environment Protection Board.
This approval includes increasing the capacity of the sponge iron division at its Silatra Industrial Area in Raipur from 594,000 tonnes per annum to 650,000 tonnes per annum.
The capacity of the HB wire division will also be increased from 100,000 tonnes per annum to 115,000 tonnes per annum.
The company added that the increased capacity can be implemented immediately, as no additional investment or modification is required to operate both units at the new capacity.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
