India's Godawari Power and Ispat jumps most in over 3 wks on becoming debt free

Godawari Power And Ispat

06/07/2021 07:24

** Shares of iron ore pellet, sponge iron maker  GDPI.NS 
rise as much as 5% to hit an upper circuit at 1,378.80 rupees,
their biggest intraday jump since June 14
    ** GDPI, which also generates power, says it has become debt
free by repaying all its long-term loans as on date  urn:newsml:reuters.com:*:nFWN2OH0HR
    ** Co said its standalone long-term outstanding debt stood
at 13.69 bln rupees ($184.23 mln) as of March 2017 and was
scheduled to be repaid in FY 2032
    ** The debt was brought down to 4.57 bln rupees by March
2021 due to improved finances and was repaid through internal
accruals - GDPI
    ** On consolidated basis, GDPI's long-term outstanding debt
stands at 3.40 bln rupees, related to a solar power project of
unit
    ** Shares of GDPI up 176.63% this year as of last close


($1 = 74.3100 Indian rupees)
    
    

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))