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Godawari Power & Ispat drops on profit booking

Capital Market 

& Ispat fell 2.29% to Rs 434.50 at 12:13 on on profit booking after a recent rally.

Meanwhile, the Sensex was down 85.63 points or 0.25% to 34,357.56. The Small-Cap index was down 89.50 points, or 0.45%, to 19,821.67.

On the BSE, 32,000 shares were traded in the counter so far, compared with average daily volumes of 1.70 lakh shares in the past two weeks. The stock had hit a high of Rs 444.70 and a low of Rs 430 so far during the day. The stock hit a 52-week high of Rs 452.80 on 9 January 2018. The stock hit a 52-week low of Rs 67.25 on 10 January 2017.

Shares of & Ispat had gained 29.91% in seven trading sessions to settle at Rs 444.70 yesterday, 9 January 2018, from its close of Rs 342.30 on 29 December 2017.

On a consolidated basis, & Ispat reported net profit of Rs 29.35 crore in Q2 September 2017 as against net loss of Rs 49.80 crore in Q2 September 2016. Net sales rose 40.80% to Rs 554.65 crore in Q2 September 2017 over Q2 September 2016.

is an end-to-end manufacturer of In the process, the company manufactures sponge iron, billets, ferro alloys, captive power, wires rods (through subsidiary company), steel wires, oxygen gas, fly ash brick and ore pellets.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 12:16 IST