Godawari Power soars on production commencement

The company said it commenced commercial production in the rolling mill and iron ore beneficiation plant from February 25, 2020.

Feb 26, 2020 06:02 IST India Infoline News Service

Godawari Power & Ispat
Shares of Godawari Power & Ispat soared 5% after the company said it commenced commercial production in the rolling mill and iron ore beneficiation plant from February 25, 2020.

“This is in continuation to our earlier announcement dated 18.01.2020 vide which we have informed that the Chhattisgarh Environment Conservation Board has granted its consent to the Company, to operate the Rolling Mill with a capacity of 4,00,000 tonnes per annum and Iron Ore Beneficiation Plant with capacity of 10,00,000 tons per annum under Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act 1981,” the company said.

The company added, “We now would like to inform you that the Company has commenced commercial production at the aforesaid Rolling Mill and Iron Ore Beneficiation Plant with effect from today. These facilities will help Company sale valued-added products.”

The stock is currently trading at Rs192, up by Rs11.55 or 6.4% from its previous closing of Rs180.45 on the BSE.

The scrip opened at Rs181 and has touched a high and low of Rs196.85 and Rs180.35 respectively.

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