Godawari Power shares see profit booking post biggest single-day gain in six months, BSE seeks clarification

Shares of Godawari Power & Ispat slipped over 2% on Tuesday a day after the metal produts stock hit its all-time high. Godawari Power & Ispat stock fell 2.52% to Rs 263.50 today against the previous close of Rs 270.35 on BSE. Market cap of the firm slipped to Rs 17,778 crore. Total 5.87 lakh shares of the firm changed hands amounting to a turnover of Rs 15.87 crore in the current session. 

The rally in the stock came on a day after the firm said its board would consider a proposal to raise funds on September 18. 

"A meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 18th September 2025, to consider the proposal for raising funds by way of preferential issue of securities / equity shares /warrants including determination of issue price subject to such regulatory / statutory approvals as may be required," said Godawari Power. 

The GPIL stock rose to a record high of Rs 276 on September 15 amid the fundraising meeting announcement. It rose 13%, the stock's biggest single day gain in six months, in the previous session. 

Meanwhile, BSE has sought clarification from Godawari Power and Ispat Ltd on September 16, 2025, with reference to movement in volume. On Monday, total 27.51 lakh shares of the firm changed hands amounting to a high turnover of Rs 73.81 crore in the current session. 

The stock fell to a 52-week low of Rs 145.55 on March 3, 2025. 

Godawari Power shares have a beta of 1, indicating average volatility in a year. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 48.9, signaling it's trading neither in the overbought nor in the oversold zone. Godawari Power shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.  

About the Company  

Godawari Power is a steel company, which operates through two segments: Steel and Electricity. Its geographic segments include domestic market and export market. The company is engaged in iron and steel industry, power sector and mining sector.