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Godawari Power share hits upper circuit of 5% after board approves stock split

Godawari Power share hits upper circuit of 5% after board approves stock split

Godawari Power & Ispat share opened with a gain of 5% at Rs 1,269.90. It was stuck at the same level throughout the trading session

Godawari Power & Ispat share has risen 21.54% in the last four days. Godawari Power & Ispat share has risen 21.54% in the last four days.

Stock of Godawari Power & Ispat was stuck in upper circuit of 5% today after board of the company approved splitting of shares  in the ratio of 1:2.

Godawari Power & Ispat share has risen 21.54% in the last four days. The share opened with a gain of 5% at Rs 1,269.90. It was stuck at the same level throughout the trading session. The share traded at a high of Rs 1269.9 and ended at the same level. In the previous session, the stock closed at Rs 1,209 on BSE.

The share stands higher than 5 day, 20 day, 100 day and 200 day moving averages but lower than 50 day moving averages. The stock has gained 319% in one year and risen 167% since the beginning of this year. In a week, the share has soared 21.54%. Total 0.22 lakh shares changed hands amounting to turnover of Rs 2.79 crore on BSE.

Market cap of the firm rose to Rs 4,474.65 crore.

The Board of Directors of Godawari Power & Ispat in its meeting held on September 14, 2021 have approved the proposal for sub-division of equity share of face value of Rs 10 each of the company into 2 equity shares of Rs 5 each, subject to approval of the shareholders of the company, the company said.

"The present authorized share capital of the company is Rs 53 crore divided into 4,98,00,000 equity shares of Rs 10 each and 32,00,000 preference shares of Rs 10 each. There is no change in the preference share capital of the company," it added.

For the quarter ended June 2021, net profit of the firm rose 835.41% to Rs 434.87 crore against profit of Rs 46.49 crore in the corresponding quarter of previous fiscal. Sales climbed 66.95% to Rs 1,126 crore in Q1 of this fiscal against Rs 674.58 crore sales in first quarter of last fiscal.