Godawari Power & Ispat hit an upper circuit limit of 10% at Rs 351.15, extending gains for the third trading session.
Shares of Godawari Power & Ispat have surged 23.28% in three consecutive sessions.In the past one year, it has surged 142.80% while the benchmark Sensex has added 10.30% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 79.61. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 309.65, 311.95 and 309.76, respectively.
Godawari Power & Ispat is an end-to-end manufacturer of mild steel wires. 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 iron ore pellets.
On a consolidated basis, net profit of Godawari Power & Ispat surged 104.32% to Rs 328.60 crore on 41.97% rise in net sales to Rs 1606.60 crore in Q3 December 2021 over Q3 December 2020.
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