Godawari Power inks pact with GAIL for gas supply

12 Dec 2024 , 01:55 PM

Godawari Power and Ispat shares rose 7% in early session and reached a record high of ₹253.40 on December 12 after the business signed a 7-year agreement with GAIL to supply re-gassified liquefied (RLNG) natural gas.

At around 1.48 PM, Godawari Power was trading 1.91% higher at ₹238.60, against the previous close of ₹234.13 on NSE.

With today’s jump, the stock extended its winning streak to nine consecutive sessions, gaining more than 29% in the process.

Godawari Power’s shares have returned 69.7% in the last year and 51.2% in the current year, according to BSE data. 

As of September 30, 2024, the business’s promoters and promoter group own 63.49% of the corporation, with public shareholders owning the remaining 36.51%.

Godawari Power & Ispat is primarily involved in the mining of iron ore and the production of iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire, and ferro alloys for the generation of power.

Godawari Power and Ispat reported a 38.1% year-on-year (YoY) fall in net profit to ₹159.1 Crore for the second quarter ending September 30, 2024. In the preceding fiscal quarter, Godawari Power and Ispat reported a net profit of ₹256.9 Crore.

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