Shares of Godawari Power and Ispat surged 7% during morning trade on December 12, hitting a record high of Rs 253.40, following the announcement of a long-term supply agreement with GAIL. The agreement entails the supply of re-gassified liquefied natural gas (RLNG) for a duration of seven years.
The stock continued its impressive performance, marking the ninth consecutive session of gains, accumulating a remarkable 29% increase during this period. The surge in trading volumes, with over 81 lakh shares changing hands compared to the one-month daily traded average of 23 lakh shares, further highlights the strong buying momentum.
The partnership with GAIL aligns with Godawari Power and Ispat’s strategic focus on sustainable and efficient energy solutions. The supply of RLNG is expected to enhance operational efficiency and reduce dependency on traditional energy sources, strengthening the company’s competitive position in the market.
Disclaimer The above information is for informational purposes only and should not be considered financial or investment advice. Please consult a professional financial advisor before making any investment decisions. Stock market investments are subject to market risks.
