This multibagger small-cap stock jumped by more than 400 per cent in a year!
As BSE Small-Cap index touched its all-time high of 21,419.84 on March 12, 2021, small-cap stocks still continue to scale record highs.
An addition to the list is Godawari Power & Ispat Ltd; the shares of which, touched its 52-week high of Rs 662.50 per share on BSE during today’s trading session.
For quite some time now, small-cap stocks have been outperforming as investors invested in these, continue to receive handsome profits from the rallies. The shares of Godawari Power & Ispat Ltd surged by around 19.46 per cent in the last one week while the scrip has gained by more than 40 per cent in the last one and a half months. In a period of one year, the stock rose by around 461.51 per cent while it has recovered, gaining by more than 600 per cent since its 52-week low of Rs 81 per share touched on March 25, 2020, according to the data available on BSE.
Recently, Chhattisgarh Environment Conservation Board (CECB, Raipur) accorded its approval to the company, for a ‘consent to operate’ enhanced capacity of iron ore pellet plant from 21,00,000 to 24,00,000 tonnes per annum. The company has also received permission from CECB for the proposed expansion and modernisation of one of its existing manufacturing facilities.
Godawari Power & Ispat Ltd is an integrated steel manufacturer having a dominant presence in the long product segment of the steel industry, mainly including mild steel wire.
The stock of the company was seen trading at Rs 635.30 per share, up by 1.01 per cent or by Rs 6.35 per share.