Multibagger stock rises 4% as board approves setting up Rs 7,000-cr plant; more details

Shares of Godawari Power and Ispat Ltd ended over 4% higher on Tuesday after the steel maker said its board has approved the proposal to set-up an Integrated Steel Plant with a capacity to produce 1.00 million tonne per annum of iron & steel finished products.

Godawari Power shares ended 4.35% higher at Rs 262.70 on BSE today. Market cap of the firm rose to Rs 17,631 crore. Total 1.19 lakh shares of the firm changed hands amounting to a turnover of Rs 3.08 crore in the current session. The stock is a multibagger, rising 280% in three years and 658% in five years. The stock has zoomed 9452% in ten years. 

The stock fell to a 52-week low of Rs 170 on April 7, 2025. 

Godawari Power shares have a beta of 1.3, indicating very high volatility in a year. 

In terms of technicals, the relative strength index (RSI) of the stock stands at 46.9, 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.  

These products will be in the form of heavy and medium section structural steel and wire rods to strengthen its presence in the steel sector and capitalise on the growing demand for structural steel in India. The Integrated Steel Plant is proposed to be set up at village Sarora, Tehsil Tilda, District Raipur, Chhattisgarh, which is 50 KMs near Raipur, Chhattisgarh at the cost envisaged at Rs 7000 crore to be funded through debt and equity (internal accruals) in the ratio of I:1.

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.