 "Godawari Power & Ispat shares rally 8%, hits record on pact with GAIL")
Godawari Power & Ispat share price: Iron ore mining company Godawari Power & Ispat Ltd. (GPIL) shares were in demand on Thursday, December 12, 2024, as the stock climbed up to 8.32 per cent to hit a fresh record (all-time high) of Rs 253.60 per share.
The uptick in the Godawari Power & Ispat share price came after the company announced that it has entered into an agreement with GAIL (India) Limited (GAIL) for the supply of RLNG Gas for company's upcoming pellet plant in the ordinary course of business for a period of 7 years.
Godawari Power & Ispat, via an exchange filing said, “We would like inform you Our Company has entered into an agreement with GAIL (India) Limited (GAIL) and exchanged the document at Raipur on 10.12.2024 for supply of RLNG Gas for Company's upcoming pellet plant in the ordinary course of business for a period of 7 years.”
About Godawari Power & Ispat
Godawari Power & Ispat (GPIL), formerly known as Ispat Godawari Ltd. (IGL), was established in 1999 to develop an integrated steel plant with captive power generation facilities.
As a leading player in the steel industry, GPIL specialises in the production of mild steel wires and has a strong presence in the long product segment.
The company’s operations encompass the entire manufacturing value chain, from raw materials to finished steel products.
GPIL produces sponge iron, billets, Ferro alloys, wire rods (through its subsidiary), steel wires, oxygen gas, fly ash bricks, and pellets. Additionally, the company has secured rights for iron ore and coal mining for captive use, further solidifying its position as a fully integrated steel manufacturer.
The market capitalisation of Godawari Power & Ispat is Rs 16,700.96 crore, according to BSE. The company falls under the BSE SmallCap category.
The 52-week low of Godawari Power & Ispat share is Rs 131.60 per share. At 10:43 AM, Godawari Power & Ispat shares were trading 6.64 per cent higher at Rs 249.65 per share. In comparison, BSE Sensex was trading 0.04 per cent lower at 81,495.65 levels.
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