Godawari Power trades higher for seventh straight day; zooms 51% in 3 days

In the past two weeks, the stock has soared 64 per cent after the company posted a multifold jump in consolidated net profit at Rs 304 crore in Q4FY21

Shares of Godawari Power & Ispat hit a new high of Rs 1,489 after rallying 18 per cent on the BSE in intra-day trade on Monday, after the company’s shareholders approved the proposal for divestment of its shareholding in Godawari Green Energy (GGEL), a material subsidiary of the company. The stock was trading higher for the seventh straight day and has zoomed 51 per cent in the past three trading days.

GGEL is a Special Purpose Vehicle (SPV) promoted by GPIL with an equity stake of 77.82 per cent on fully diluted basis. The company was formed with an