450 per cent returns and FIIs & DIIs increase stake: This multibagger stock commissions 22 MW solar power plant; reports impressive Q2FY24 results!
Shares of the company have gained more than 80 per cent in the last six months.
Godawari Power & Ispat announces that its subsidiary, Hira Ferro Alloys Limited, has commissioned a 22 MWp solar power plant, adding to the previously commissioned 30 MWp. This brings the total operational capacity to 52 MWp out of the planned 55 MWp. The remaining 8 MWp capacity is on hold due to lack of contiguous land. The company is actively seeking land to complete the project. The solar power generated will be used for captive consumption by HFAL, reducing carbon footprint and generating cost savings.
In the recent quarter, Q2FY24, the net sales of the company decreased by 1.23 per cent at Rs 1291.04 crore for Q2FY24 as compared to Rs 1307.14 crore for the corresponding quarter previous year. The company reported a 47.72 per cent rise in its net profit at Rs 253.49 crore for the quarter ended September 30, 2023, as compared to Rs 171.60 crore for the same quarter in the previous year. FIIs and DIIs increased their stake in the company in September 2023.
Also read, Decoding greeks in options trading: Delta, gamma and theta
Godawari Power & Ispat Limited has two captive iron ore mines (3.05 MTPA), a pellet plant (2.7 MTPA) and a vertically integrated steel plant in Raipur. The steel plant manufactures sponge iron (capacity of 495,000 tonnes per annum [TPA]), billets (400,000 TPA), MS rounds (400,000 TPA), HB wires (400,000 TPA), ferroalloys (16,500 TPA) and pre-fab structures (110,000 TPA). The two main operational subsidiaries of GPIL are Alok Ferro Alloys Ltd (AFAL) and HFAL. The stock has also delivered multibagger returns of over 190 per cent in the past one year.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ’s 'Multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Related articles
-
Heavy Institutional buying: Top 3 small-cap multibagger stocks in which FIIs and DIIs have increased their stake!
-
Penny Stock Yes Bank: 3-Year Lock-in Period Ending Soon, Key Level to Watch Out For
-
FII based in Mauritius purchases 5 lakh shares of this multibagger stock, gains by more than 135 per cent in just 6 months!
-
Back-to-Back Upper Circuit Stock Under Rs 100: Do You Own This Hydraulic Engineering Equipment Manufacturing Stock?
-
1:4 Bonus Issue: Debt-Free Liquor Stock Hits All-Time High & Upper Circuit with Heavy Volume Today – Do You Own It?
-
Penny Stock Under Rs 20: This Oil Exploration Stock Hits Upper Circuit & 52-Week High Today; Q4 FY24 Net Profits Surge by 230 per cent: Must Watch!
-
52-Week High Alert: Steel Company Establishes New Manufacturing Plant in Raebareli, Uttar Pradesh; Stock Surges Over 140 per cent in One Year!
-
400 per cent multibagger returns and Heavy buying: This defence & aerospace stock bags new orders worth Rs 266 crore from Garden Reach Shipbuilders!
-
Rs 800 Crore Order Book: This Aerospace & Defence Electronic Company Bags Order Worth Rs 1,250 Crore from Larsen & Toubro!
-
Penny Stock Under 15: Company Bags Order Worth Rs 1,96,80,000 from BSNL; Stock Hits Upper Circuit Today!
-
Rs 57,536 Crore Order Book: Rekha Rakesh Jhunjhunwala-Backed Construction Company Bagged Order Worth Rs 335 Crore in June, Stock Gains Over 160 Per cent in Just 1 Year!
-
Stock Hits Upper Circuit After Small-Cap Multibagger Announces 3:1 Bonus Shares; Stock Gains Over 200 per cent in Just 6 Months Only!
-
Heavy buying: Back-to-back upper circuit in this multibagger solar power stock; bags new order for solar power plant worth Rs 4.12 crore!
-
This Artificial Intelligence Company's Shares Hit Upper Circuit: Here's Why? Promoter Increased Stake from 4.03 per cent to 34.03 per cent & FIIs own 22.93 per cent stake!
-
Solar Company Bags Order Worth Rs 17,82,10,800 from Eminent Paper Industries, Stock Gains Over 230 per cent in just 6 months!
-
Rs 800 Crore Order Book: This Small-Cap Company Secures Rs 53,00,00,000 Order from Housing & Urban Development Department, Government of Odisha
-
Rs 3,400 crore order book: Multibagger power company bags order worth Rs 12,07,26,677 from NTPC & Maharashtra State Power Generation Company!
-
Under Rs 110: This Microcap Railway Company Bags Order Worth Rs 34,94,70,000 from K-Ride, a Rail Infrastructure Development Company!
-
900 per cent returns and FIIs & DIIs increase stake: This multibagger power sector stock secures major order for a 300 MW wind-solar hybrid power project!
-
Penny Stock Under Rs 50 Hits Upper Circuit and 52-Week High; Promoters of This Realty Company Bought 5,15,987 Shares in June!