India's Godawari Power and Ispat hits record high after Q3 profit jump

Godawari Power And Ispat

07/02/2024 06:48

** Shares of Godawari Power and Ispat  GDPI.NS  rise as much
as 8.6% to a record high of 836.60 rupees
    ** Steel co on Tuesday reported ~79% jump in Q3 consolidated
net profit, rev from ops fell 10.5%
    ** Co also approved setting up of greenfield integrated
steel plant with capacity of 2 mln tonnes from 1 mln proposed
earlier 
    ** On Wednesday, co said it received environment clearance
for expansion of iron ore pelletization plant from 2.7 mln
tonnes capacity (MTPA) to 4.7 MTPA
    ** Stock eyes fourth consecutive session of gains 
    ** Stock rose ~103% in 2023, its fourth straight annual gain




 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))