Shares of Godawari Power and Ispat Ltd are trading in the green after the company shared updates on its merger with its subsidiary, Godavari Energy Limited (GEL). In an exchange filing, the company said that the merger process is now complete and the company has received a certified copy of the order dated March 12, 2026, of the National Company Law Tribunal, Cuttack Bench (“NCLT”). The company stated that the merger became effective on March 23, 2026, meaning GEL is now fully integrated into the company. However, the planned date for this scheme was April 1, 2025.
Share price today
Amid a rally in the stock market, the stock opened gap up with a gain of 2.42 per cent today at Rs 257.85 against the previous close of Rs 251.75 on the BSE. It further advanced to touch a high of Rs 264.65, representing a gain of 5.12 per cent from the previous close. In between, it touched a low of Rs 251.80.
At the time of writing the report, the stock was trading at Rs 264.65, with a gain of Rs 12.90 or 5.12 per cent, and the market cap of the company stood at Rs 17,755.75 crore.
On the National Stock Exchange (NSE), the stock opened at Rs 259.50, up from the previous close of Rs 251.85, and later touched intraday highs and lows of Rs 264.50 and Rs 251.45, respectively.
The stock is trading above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages and has outperformed the sector by 1.41 per cent.
Relative strength index
The stock’s 14-day relative strength index (RSI) is 46.87. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Earlier, the company said that it had approved a proposal to set up an OPVC pipe at an investment of Rs 125 crore.
The board also approved a proposal to acquire up to 60 per cent equity stake in RG Pigments Private Limited (RGP) for a consideration of Rs 56.
75 crore, the company said in an exchange filing. RGP is engaged in the business of recycling non-ferrous metals industrial waste, it said.
The cost for the OPVC project will be Rs 125 crore, including working capital margin, the company said.
ALSO READ | Govt withdraws domestic airfare cap, here’s what it means for flyers and airlines: Full details
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
